5. The price p and the demand x for a product are related by the price- demand equation x = f(p) 1,000(40 – p) Find the elasticity of demand E(p) for the price-demand equation (A) E(8) (B) E(30) (C) E(20)

5. The price p and the demand x for a product are related by the price- demand equation x = f(p) 1,000(40 – p) Find the elasticity of demand E(p) for the price-demand equation (A) E(8) (B) E(30) (C) E(20)

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter6: Elasticities

Section: Chapter Questions

Problem 5P

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5. The price p and the demand x for a product are related by the price-
demand equation
x = f(p) = 1,000(40 – p)
Find the elasticity of demand E(p) for the price-demand equation
(A) E(8)
(В) E(30)
(C) E(20)

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