A good's demand is given by: P = 407 - 3Q. At P = 196, the point price elasticity is: Enter as a value (round to two decimal places if necessary).

Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter20: Consumer Choice And Elasticity
Section: Chapter Questions
Problem 7CQ
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A good's demand is given by: P = 407 - 3Q. At P = 196, the point price
elasticity is:
Enter as a value (round to two decimal places if necessary).
Transcribed Image Text:A good's demand is given by: P = 407 - 3Q. At P = 196, the point price elasticity is: Enter as a value (round to two decimal places if necessary).
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