Question

Assume the demand for an item is Q = 1000 - 4p^2 , where Q is the quantity and p is the price of an item. Find the elasticity of demand when p = $0.90. Round off answer to 3 decimal places. NOTE: if answer is 0.0126, write 0.013 if answer is 0.0124, write 0.012 Question 15 4 pts Assume the demand for an item is Q = 150 - 4p where Q is the quantity and p is the price per item. If the current price of an item is $20, a) Is demand elastic/inelastic? b) Will a 10% increase in price cause revenue to increase or decrease? Select all answers that are correct. increase price will decrease revenue demand is inelastic increase price will increase revenue demand is elastic

          Assume the demand for an item is Q = 1000 - 4p^2 , where Q is the quantity and p is the price of an item. Find the elasticity of demand when p = $0.90. Round off answer to 3 decimal places. 

NOTE: if answer is 0.0126, write 0.013
if answer is 0.0124, write 0.012

Question 15 4 pts
Assume the demand for an item is Q = 150 - 4p where Q is the quantity and p is the price per item. If the current price of an item is $20,
a) Is demand elastic/inelastic?
b) Will a 10% increase in price cause revenue to increase or decrease?
Select all answers that are correct.
increase price will decrease revenue
demand is inelastic
increase price will increase revenue
demand is elastic

Assume the demand for an item is Q = 1000 - 4p^2 , where Q is the quantity and p is the price of an item. Find the elasticity of demand when p = 0.90. Round off answer to 3 decimal places.

NOTE: if answer is 0.0126, write 0.013
if answer is 0.0124, write 0.012

Question 15 4 pts
Assume the demand for an item is Q = 150 - 4p where Q is the quantity and p is the price per item. If the current price of an item is20,
a) Is demand elastic/inelastic?
b) Will a 10% increase in price cause revenue to increase or decrease?
Select all answers that are correct.
increase price will decrease revenue
demand is inelastic
increase price will increase revenue
demand is elastic

Added by Michelle C.

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