Calculate price elasticity of demand when price is given, Microeconomics

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Calculate price elasticity of demand when price is given

a. The demand curve is: Qd = 500 - 1/2 P.a. Calculate the (point) price elasticity of demand when price is $100. Is demand elastic or inelastic?

b. Calculate the (point) price elasticity of demand when price is $700. Is demand elastic or inelastic?

c. Find the point at which point elasticity is equal to -1.

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Microeconomics: Calculate price elasticity of demand when price is given

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Microeconomics: Calculate price elasticity of demand when price is given

Reference No:- TGS072992

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Recent Questions Asked Microeconomics

Q : Would factors change as earnings increased

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Calculate price elasticity of demand when price is given

Reference No:- TGS072992

Recent Questions Asked Microeconomics

Q : Would factors change as earnings increased

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