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A new craft brewer has opened its doors in Newtown and is offering samples of its latest brew, The Hopolators Delight, at a price of$9.00 each. If 20 individual consumers have the following demand curve: p=30−3q, what is the absolute value of own price elasticity of demand for the market at the equilibrium? Group of answer choices 3/20 3/7 1 20/3 3

Question

A new craft brewer has opened its doors in Newtown and is offering samples of its latest brew, The Hopolators Delight, at a price of$9.00 each. If 20 individual consumers have the following demand curve: p=30−3q, what is the absolute value of own price elasticity of demand for the market at the equilibrium? Group of answer choices

3/20

3/7

1

20/3

3

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