Suppose the Demand Function for a Product Is Given by

question 61

Multiple Choice

Suppose the demand function for a product is given by where p is in hundreds of dollars and q is the number of tons. What is the elasticity of demand when the quantity demanded is 6 tons and the price is $303? Round your answer to one decimal place.
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• A) η​ ≈ 5.0
• B) η​ ≈ 42.3
• C) η​ ≈ 7.1
• D) η​ ≈ 6.1
• E) η​ ≈ 2.0

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