Suppose the demand equation is:Q= 80 - 1.25p.What is the price elasticity of demand if the price is $40 per unt and output is 30 unites?The price elasticity of demand is-1.67. (Enter a numeric response using a real number rounded to twe decimal placss)This means that if the price increases by B%, the quantity demanded will(Enter a numeric response using a real number rounded to two decimalplaces.)decreaseincrease

Answer:----. Date:----2/10/2021

Answered: The price elasticity of demand is-157.…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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The price elasticity of demand is-157. (Enter a numeric response ueing a real number rounded to two decimal places) This means that ir the price increases by B%, the quantity demanded wil by Enter a mumerie respense using a real number rounded to two decimal places.)