SOLUTION: if the demand function of a commodity is P=70-0.5Q Where P and Q are price and quantity respectively, determine the price elasticity of demand when the price decreases from R7 t

Question 1121407: if the demand function of a commodity is P=70-0.5Q
Where P and Q are price and quantity respectively, determine the price elasticity of demand when the price decreases from R7 to R5. Indicate whether the demand is elastic or not.
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!

This is a Math website and an inappropriate forum for your Economics question.

John

My calculator said it, I believe it, that settles it

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