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15 July, 20:17

Scenario 2: Suppose that the demand for artichokes (Qa ) is given as: Qa = 200 minus 4P Use the information in Scenario 2. What is the price elasticity of demand if the price of artichokes is $10?

A. 0

B. minus4

C. minus0.25 Your answer is correct.

D. minus1

E. Negative infinity

+5
Answers (1)
  1. 15 July, 20:25
    0
    C. minus0.25 Your answer is correct.

    Explanation:

    Q = 200 - 4P

    dQ/dP = - 4

    price elasticity of demand = dQ/dP*P/Q

    = - 4 * 10 / (200 - 4*10)

    = - 0.25

    Therefore. The price elasticity of demand if the price of artichokes is $10 IS - 0.25
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Home » Business » Scenario 2: Suppose that the demand for artichokes (Qa ) is given as: Qa = 200 minus 4P Use the information in Scenario 2. What is the price elasticity of demand if the price of artichokes is $10? A. 0 B. minus4 C. minus0.25 Your answer is correct.
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