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The equation for a demand curve is P = 48 – 3Q. What is the elasticity in moving from a quantity of 5 to a quantity of 6?
$-2.2$
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Chapter 5
Elasticity
How Markets Work
Markets and Welfare
Camille D.
May 11, 2021
the equation for a demand curve is P=48-3Q. what is the point price elasticity of demand at p+18?
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Let's say we have the following equation. Prices equal to 48 minus three killed. What is the other sis city of going from quantity 5 to 26. Well, we have to do is play in the quantity into the equation. So we plug in five. That's going to give us the price. It was 25 we plug in six. It gives us the price of point. We're going to call this quantity. You won, and I want in price one indeed. Rabbinical quantity, too. In price, too. Now the elasticity is going to be que tu on this cute one over 22 plus que want divided by two, huh? And we don't want to divide this whole thing, right? We wanna defied in. Yeah, by P two minus B one overpay to plus B one over two. This'd system in point for me. And when we plug in all these values, you should find that the answer's negative 2.2
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