Question: The demand for a good is given by the equation q = 550/(p-20) where q is the quantity demanded in millions of tonnes and p

The demand for a good is given by the equation

q = 550/(p-20)

where q is the quantity demanded in millions of tonnes and p is the price per tonne in dollars. What is the price elasticity of demand () when the good is sold for $659 per tonne?

(Give your answer correct to four decimal places.)

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