When P=$5 - $0.05Q, and Q =40, the point price elasticity of demand is: a. -2/3, b. -3/2, c. -8/3 d.-3/8.

I know that when you plug 40 into the .05Q, you get 2, and 5-2=3, so I think the answer is b. but I can't figure out why. I would really appreciate an explanation. Thank you. Is this a slope, rise over run thing?

I know that when you plug 40 into the .05Q, you get 2, and 5-2=3, so I think the answer is b. but I can't figure out why. I would really appreciate an explanation. Thank you. Is this a slope, rise over run thing?

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