Answered: 14. If the inverse demand curve for a…

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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Question

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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