14. If the inverse demand curve for a good is given by P=100-4Q, the price elasticity of demand is elastic at a price of and inelastic at a price of A) $40; $60 B) $60; $50 C) $55; $35 D) $35; $30
14. If the inverse demand curve for a good is given by P=100-4Q, the price elasticity of demand is elastic at a price of and inelastic at a price of A) $40; $60 B) $60; $50 C) $55; $35 D) $35; $30
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Elastic And Its Application
Section: Chapter Questions
Problem 1QR
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![14. If the inverse demand curve for a good is given by P=100-4Q, the price elasticity of demand
is elastic at a price of
and inelastic at a price of
A) $40; $60
B) $60; $50
C) $55; $35
D) $35; $30](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc1a6a995-c8d0-4d4f-9e6b-a9cb754faf07%2F1338c0d6-1939-4c25-9039-d4ff427aa9e3%2Fcgm84j_processed.png&w=3840&q=75)
Transcribed Image Text:14. If the inverse demand curve for a good is given by P=100-4Q, the price elasticity of demand
is elastic at a price of
and inelastic at a price of
A) $40; $60
B) $60; $50
C) $55; $35
D) $35; $30
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