What is the point price elasticity of demand for oil

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Suppose that the demand for oil is given by the equation P=10 - 0.2Q where Q is the quantity of oil in barrels per day and P is the price of oil in $ per barrel. You also know that at the current price of oil of $75 per barrel, 750 barrels of oil were purchased per day. What is the point price elasticity of demand for oil?

Reference no: EM13223424

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