The consumer demand equation for tissues is given by q = 11,664 −216 p +p2, where p is the price per case of tissues and q is the demand in weekly sales. Determine the price elasticity of demand E when the price is set at $24. (Round your answer to three decimal places.) E =

The consumer demand equation for tissues is given by q = 11,664 −216 p +p2, where p is the price per case of tissues and q is the demand in weekly sales. Determine the price elasticity of demand E when the price is set at $24. (Round your answer to three decimal places.) E =

EBK HEALTH ECONOMICS AND POLICY

7th Edition

ISBN:9781337668279

Author:Henderson

Publisher:Henderson

Chapter5: Demand For Health And Medical Care

Section: Chapter Questions

Problem 9QAP

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Question

The consumer demand equation for tissues is given by

q = 11,664 −216 p +p²,

where p is the price per case of tissues and q is the demand in weekly sales.

Determine the price elasticity of demand E when the price is set at $24. (Round your answer to three decimal places.)
E =

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