The following graph depicts demand.
Refer to the figure above.The price elasticity of demand at point C is:
A) 3/16.
B) 16/3.
C) 3/4.
D) 3/8.

Name: The following graph depicts demand. Refer to the figure above.The price elasticity of demand at point C is: A) 3/16. B) 16/3. C) 3/4. D) 3/8.
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Question

The following graph depicts demand. 
Refer to the figure above.The price elasticity of demand at point C is:
A) 3/16. 
B) 16/3. 
C) 3/4. 
D) 3/8.

Quizplus · Accepted Answer

The formula to use is (price/quantity)/slope.Here it is 3/8 × 2 = 3/4.(2 is the reciprocal of 0.5. )

The Following Graph Depicts Demand