Demand for a particular good is given by the following equation: P=240-4Q. What is the price...

Question

Question

business economics

Answer 1

Answer #1

P= 240 - 4Q
4Q = 240 - P
Q= 60 - 0.25P

dQ/dP = -0.25

Elasticity = -0.25*160/20 = -2

Answer 2

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