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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

Respuesta :

Karabo99

Answer:

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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