Q190
If the demand for using the Noida express way is given by Q = 40,000 - 2,500P Where Q is the number of users (vehicles) and P is the amount of toll collected per unit who uses the express way. In light of this information which of the following is true?
A.
At P = Rs. 6 and Q = 14,000, demand is price inelastic
B.
At P = Rs. 7 and Q = 16,500
C.
At P = Rs. 4 and Q = 9,500, demand is price elastic
AnswerD.
All of the above
Answer: Option C
Solution
Answer: Option C
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