Suppose the weekly demand function for a product is where p is the price in thousands of dollars and q is the number of units demanded. What is the elasticity of demand when the price is $1,000 and the quantity demanded is 714? Round your answer to two decimal places.
A) η ≈ 14.80
B) η ≈ 7.40
C) η ≈ 16.80
D) η ≈ 14.97
E) η ≈ 124.15

Question

Suppose the weekly demand function for a product is  where p is the price in thousands of dollars and q is the number of units demanded. What is the elasticity of demand when the price is $1,000 and the quantity demanded is 714? Round your answer to two decimal places. ​
A) η​ ≈ 14.80 
B) η​ ≈ 7.40 
C) η​ ≈ 16.80 
D) η​ ≈ 14.97 
E) η​ ≈ 124.15

Quizplus · Accepted Answer

The Answer of Suppose the weekly demand function for a product is  where p is the price in thousands of dollars and q is the number of units demanded. What is the elasticity of demand when the price is $1,000 and the quantity demanded is 714? Round your answer to two decimal places. ​
A) η​ ≈ 14.80 
B) η​ ≈ 7.40 
C) η​ ≈ 16.80 
D) η​ ≈ 14.97 
E) η​ ≈ 124.15

Suppose the Weekly Demand Function for a Product Is