Question: 14 Question (1 point) See page 278 Linear demand functions, while simple, are easy to interpret and have many applications Suppose demand for pens is

14 Question (1 point) See page 278 Linear demand functions, while simple, are easy to interpret and have many applications Suppose demand for pens is given by the function D(p) = 60.00 - 1.00p. 2nd attempt Part 1 (0.5 point) * Feedback See Hint Suppose pens cost $2. What is the price elasticity of demand? Give your answer to two decimals. @) 0)) Part 2 (0.5 point) Feedback Q See Hint Consider a general linear demand function D(p) = a - bp. What is the general-form equation for the price elasticity of demand? Choose one

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