Demand function for a cola-type soft drink in general is q= 20 – 2P, where Q stand
for quantity and P stands for price.
<br>a. Calculate point elasticities at prices of 5 and 9. Is the demand curve elastic or inelastic at these points?
The demand function for a cola-type soft drink in general is Q = 20-2P, where Q stands for quantity and P stands for price.
At which price would a change in price and quantity result in approximately no change in total revenue? Why?
1 answer
1 answer