Mathematics, 27.05.2020 18:58, MickeyAppleX

3) For a certain good we have q = f(p) = 200e^(-0.4p)
a) Find the elasticity of demand at price p = $50.
b) At p = $50, is the demand elastic, inelastic, or does it have unit elasticity? Explain what this means for this product.
c) Find the elasticity of demand at price p = $20.
d) At p = $20, is the demand elastic, inelastic, or does it have unit elasticity? Explain what this means for this product.

Answers: 1

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3) For a certain good we have q = f(p) = 200e^(-0.4p)
a) Find the elasticity of demand at pric...