Find the point elasticity of the demand equation for the indicated value of q, and determine whether demand is elastic, is inelastic, or has unit elasticit p=48-q;q=3 The point elasticity of the demand equation for q=3 is n= (Simplify your answer.) Is the demand elastic, inelastic, or does it have unit elasticity? O unit elasticity Oinelastic O elastic

ENGR.ECONOMIC ANALYSIS
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Find the point elasticity of the demand equation for the indicated value of q, and determine whether demand is elastic, is inelastic, or has unit elasticity.
p=48-q;q=3
The point elasticity of the demand equation for q=3 is n=
(Simplify your answer.)
Is the demand elastic, inelastic, or does it have unit elasticity?
O unit elasticity
inelastic
elastic
Transcribed Image Text:Find the point elasticity of the demand equation for the indicated value of q, and determine whether demand is elastic, is inelastic, or has unit elasticity. p=48-q;q=3 The point elasticity of the demand equation for q=3 is n= (Simplify your answer.) Is the demand elastic, inelastic, or does it have unit elasticity? O unit elasticity inelastic elastic
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