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goldant494Lv1
28 Sep 2019
Suppose a firm's demand curve is given by P = 120 - 0.5Q. Find the (value of) price elasticity of demand (point elasticity) for the demand curve when the price is $100. Is demand elastic or inelastic?
Please list the steps and explain why demand is elastic or inelastic.
Suppose a firm's demand curve is given by P = 120 - 0.5Q. Find the (value of) price elasticity of demand (point elasticity) for the demand curve when the price is $100. Is demand elastic or inelastic?
Please list the steps and explain why demand is elastic or inelastic.
Joshua StredderLv10
28 Sep 2019