Q4: If you have the following demand function Qd = 100 - 2p^2 Desired: Calculate the price elasticity of demand (Ed) at price (p = 6) dinars, and the degree of elasticity.
Added by Russell F.
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To do this, we substitute p = 6 into the demand function Qd = 100 - 2p^2: Qd = 100 - 2(6)^2 Qd = 100 - 2(36) Qd = 100 - 72 Qd = 28 So, at a price of 6 dinars, the quantity demanded is 28 units. Show more…
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