What is the elasticity of demand

Reference no: EM131798491

Question: Suppose the weekly demand function for a product is

q = (5000/(1 + e^2p)) - 1

where p is the price in thousands of dollars and q is the number of units demanded. What is the elasticity of demand when the price is $1000 and the quantity demanded is 595?

Reference no: EM131798491

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