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

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 (n) when the good is sold for $365 per tonne? (Give your answer correct to four decimal places.)

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