requesting "elastic demand" exercise help

maxboy0801

New member
Joined
Nov 9, 2005
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12
I am just not understanding a demand problem I have. It is multiple choice which means it should be easy, but I am just retarded.

The demand for ground chuck (hamburger) in a certain region of the United States is given by q=2.79p^-.23. Is the demand for ground chuck elastic or inelastic?

a. Inelastic
b. The demand has unit elasticity.
c. Elastic
d. None of these

Does anyone have any advise they could offer?
 
How does your book define "elasticity" of demand?

Please reply with specifics, showing your work thus far.

Thank you.

Eliz.

P.S. to tutors: Yes, "they're" back.
 
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