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Market Demand Is Given as QD = 300 - 6P

Question 282

Multiple Choice
Market demand is given as Q<sub>D </sub>= 300 - 6P.Market supply is given as Q<sub>S </sub>= 4P.If price increases from $10 to $14,what is the price elasticity of demand

Market demand is given as QD = 300 - 6P.Market supply is given as QS = 4P.If price increases from $10 to $14,what is the price elasticity of demand


A) 0.3
B) 0.7
C) 1.2
D) 1.4

Correct Answer:

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