A mining company is inter

A mining company is inter

A mining company is interested in obtaining the demand curve for coal. The firm’s research department informs you the price elasticity of demand is -0.85, and the current price and quantity are $41 and 1,206 respectively. Price is measured in dollars per ton, quantity in tons per week. Your estimate of a liner demand at the current price and quantity is closest to:1. Qd = 2232 – 0.0288 P2. Qd = 2231 = 25 P3. Qd = 2108 – 22 P4. Qd = 2026 – 20 P

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