The demand function of canned soda is linear Q=2000-500p, where Q is quantity in cans and...
The demand function of canned soda is linear Q=2000-500p, where Q is quantity in cans and p is price/can in dollars.
1) when p=1.5, what is the elasticity of demand?
2) what is the price at which the demand for soda has unitary elasticity?
3) suppose after the anti-sugar campaign, the demand function of soda becomes Q=2500-500p^2. at the price, you identified in (b), what is the elasticity of demand now given the new demand function? is it elastic or inelastic?
Thank you
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The demand function of canned soda is linear Q=2000-500p, where
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