Suppose the demand for a product is given by D(p)=-7p+ 197. A) Calculate the elasticity of demand at a price of $9. Elasticity = (Round to three decimal places.) B) At what price do you have unit elasticity? (Round your answer to the nearest penny.) Price = $

Suppose the demand for a product is given by D(p)=-7p+ 197. A) Calculate the elasticity of demand at a price of $9. Elasticity = (Round to three decimal places.) B) At what price do you have unit elasticity? (Round your answer to the nearest penny.) Price = $

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 3SQP

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Question

Suppose the demand for a product is given by D(p) = -7p+ 197.
A) Calculate the elasticity of demand at a price of $9.
Elasticity =
(Round to three decimal places.)
B) At what price do you have unit elasticity? (Round your answer to the nearest penny.)
Price = $

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