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MrGrimey MrGrimey
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6 years ago
Suppose the log-linear demand for widgets is found to be
   Ln(Q) = 1.5 - 2ln(p)
According to this equation, a 10% increase in price will decrease Q by what percentage? What is the price elasticity of demand?
Textbook 
Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
Author:
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SaHiN22SaHiN22
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6 years ago
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Correct Slight Smile TY
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Just got PERFECT on my quiz
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