Which of the following functions has unit price elasticity at ?
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CUET-PG 2020 Question 35: Demand theory and elasticity
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Which of the following functions has unit price elasticity at P = 6? (A) Demand: Q_d = 10 (B) Demand: log Q_d = 100 - 3log P (C) Demand: Q_d = 24 - 2P (D) Supply: Qₛ = 5P
Demand theory and elasticity has come up 161 times in 7 exams since 2004.
What this question tests
This question is on Price elasticity of demand, part of Demand theory and elasticity in Microeconomics.
How responsive quantity is to price, at a point, along a linear curve, and for constant-elasticity demand.
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