If demand function for a product is Qd = 30 – 4P, and the pr…

Question

If demand function for a product is Qd = 30 – 4P, and the price and quantity of products is 4 and 14 respectively. What is the price elasticity of demand for the product?

Answer 1

If demand function for a product is Qd = 30 – 4P, and the price and quantity of products is 4 and 14 respectively. What is the price elasticity of demand for the product?

1.14 ✓
1.7
14.1
7.1

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