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Market Demand Is Given as QD = 140 - 5P

Question 313

Multiple Choice
Market demand is given as Q<sub>D </sub>= 140 - 5P.Market supply is given as Q<sub>S </sub>= 2P.If price increases from $3 to $5,what is the price elasticity of demand

Market demand is given as QD = 140 - 5P.Market supply is given as QS = 2P.If price increases from $3 to $5,what is the price elasticity of demand


A) 0.2
B) 0.8
C) 1.0
D) 4.2

Correct Answer:

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