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Market Demand Is Given as QD = 250 - 0

Question 303

Multiple Choice
Market demand is given as Q<sub>D </sub>= 250 - 0.5P.Market supply is given as Q<sub>S </sub>= 2P.If price increases from $50 to $55,what is the price elasticity of demand

Market demand is given as QD = 250 - 0.5P.Market supply is given as QS = 2P.If price increases from $50 to $55,what is the price elasticity of demand


A) 0
B) 0.1
C) 1.0
D) 2.2

Correct Answer:

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