A product's demand function is of the form q=20-0.75p. At a price of $14, the point elasticity will...

Question

A product's demand function is of the form q=20-0.75p. At a price of $14, the point elasticity will be ________. Between prices of $11 and $12, the arc elasticity will be __________.

David · Accepted Answer

A product's demand function is of the form q=20-0.75p. At a price of $14, the point elasticity will be 
__-$1.105263______. Between prices of $11 and $12, the arc elasticity will be ____0.2584______. 
Answer: 
q=20-0.75p, this implies = dq/dp = -0.75 
At p = $14, q = 20-0.75*14 = 9.

A product's demand function is of the form q=20-0.75p. At a price of $14, the point elasticity will be . Between prices of $11 and $12, the arc elasticity will be __.

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