Suppose that the inverse demand curve for a new laptop computer can be expressed as
, where price is in dollars and quantity is in number of laptops.
a. What is the price elasticity of demand at a quantity of 625?
b. Is the demand for these laptops elastic or inelastic?

Question

Suppose that the inverse demand curve for a new laptop computer can be expressed as  
, where price is in dollars and quantity is in number of laptops. 
a. What is the price elasticity of demand at a quantity of 625?
b. Is the demand for these laptops elastic or inelastic?

Quizplus · Accepted Answer

The Answer of Suppose that the inverse demand curve for a new laptop computer can be expressed as  
, where price is in dollars and quantity is in number of laptops. 
a. What is the price elasticity of demand at a quantity of 625?
b. Is the demand for these laptops elastic or inelastic?

Suppose That the Inverse Demand Curve for a New Laptop