question archive The demand curve in the market for baseball hats is given by the equation 4P = 45 - Q, where P represents price and Q represents quantity
The demand curve in the market for baseball hats is given by the equation 4P = 45 - Q, where P represents price and Q represents quantity
Subject:EconomicsPrice:2.88 Bought3
The demand curve in the market for baseball hats is given by the equation 4P = 45 - Q, where P represents price and Q represents quantity. What is the price elasticity of demand when the quantity changes from 3 to 4? Use the midpoint method, and put the absolute value of your calculation below. Specify your answer to one decimal place.
Number
The price elasticity of demand for baseball hats is
a. unit elastic
b. inelastic
c. elastic Previous
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