Question: Suppose the demand relationship is given by P = 12 - 2Q. Using the point-slope formula for elasticity (elasticity = {1/Slope}x{P/Q}, what is the elasticity

Suppose the demand relationship is given by P = 12 - 2Q. Using the point-slope formula for elasticity (elasticity = {1/Slope}x{P/Q}, what is the elasticity of demand at a price of 2?

A) 0.2

B) 5

C) 1

D) 2

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