The price elasticity of demand if the price of artichokes is $10 is -0.25.
The elasticity of demand comes in a variety of forms, including inelastic, elastic, and unitary elastic demand. In other words, a demand that is less than one is considered inelastic, and a demand more than one is considered elastic. Demand that is one is said to have unitary elastic demand.
Given;
Qa = 200 - 4P
Qa = 200 - 4(10)
Qa = 160
Ed = (P/Qa) X (dQ/dP)
Ed = (10/160) X (-4)
Ed = -0.25
The price elasticity of demand if the price of artichokes is $10 is -0.25.
Learn more about the Elasticity of demand with the help of the given link:
https://brainly.com/question/23301086
#SPJ4
