A company sells x ribbon winders per year at $p per ribbon

Last updated: 7/19/2022

A company sells x ribbon winders per year at $p per ribbon winder. The demand function for ribbon winders is given by p = 250 - 0.04x. Determine the elasticity of demand when the price is $75 apiece. Round your answer to the nearest hundredth. 0.21 0.22 0.23 0.24