[Solved] 1.Assume a price decrease from currently

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1.Assume a price decrease from currently 2.00 to 1.00 for your product. Calculate the price elasticity of demand. 2. Is the demand elastic or inelastic?

Q_Demand = 0.5P³ + 9.5

use this formula: h=[(Q₁ Q₀)/(Q₁ +Q₀)]/[(P₁ P₀)/(P₁ +P₀)]

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