Problem 29.
Demand for cookies (Q) is given as follows:
Q = 180/Pc + I/Pd + 3
Pc = price of cookies
I = income
Pd = price of donuts
Note: Q=28, Pc=10, Pd=7
Given the above information what is the price elasticity of demand at Q=28?
1 answer
Umm....4 XD