Suppose the demand for a product is given by D(p) = – 4p + 232. A) Calculate the elasticity of demand at a price of $16. (Give your answer to three decimal places.) Elasticity = B) At what price do you have unit elasticity? (Round your answer to the nearest penny.) Price = $

Suppose the demand for a product is given by D(p) = – 4p + 232. A) Calculate the elasticity of demand at a price of $16. (Give your answer to three decimal places.) Elasticity = B) At what price do you have unit elasticity? (Round your answer to the nearest penny.) Price = $

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 3SQP

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Question

Suppose the demand for a product is given by D(p) :
- 4p + 232.
A) Calculate the elasticity of demand at a price of $16. (Give your answer to three decimal places.)
Elasticity =
B) At what price do you have unit elasticity? (Round your answer to the nearest penny.)
Price = $

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