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Homework answers / question archive / 1)The demand curve for a product is given by the equation Qd = 22 - 0

1)The demand curve for a product is given by the equation Qd = 22 - 0

Economics

1)The demand curve for a product is given by the equation Qd = 22 - 0.2P.

When the price of the product is $10, the price-elasticity of demand is:

a) - 0.1.

b) - 2.5.

c) - 4.5.

d) - 5.0.

Explain your answer.

 

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