Question: 2 - Question 12 (1 point) The demand function for Good X is defined as Q = 20 - 0.5P. At the price P=30, the

2 - Question 12 (1 point)

The demand function for Good X is defined as Q = 20 - 0.5P. At the price P=30, the price elasticity of demand is

Question 12 options:

a)

 elastic

b)

 unit elastic (= -1.0)

c)

 inelastic

d)

 Don't pick this answer

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