The demand for office chairs in thousands is Q = 80 - P².At a price of $4,the price elasticity of demand is: A) -0.5. B) -8.0. C) -2.0. D) -4.0. E) -0.25.

Name: The demand for office chairs in thousands is Q = 80 - P 2 .At a price of $4,the price elasticity of demand is: A) -0.5. B) -8.0. C) -2.0. D) -4.0. E) -0.25.
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Price elasticity of demand = - (P/Q) * (dQ/dP)= - (4/76) * (-2P)= - (8/76)= -0.105

The Demand for Office Chairs in Thousands Is Q =