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2. The equation for a demand curve is P = 2/Q +1. What is the elasticity of demand as price moves from 5 to 6?

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2. The equation for a demand curve is P = 2/Q +1. What is the elasticity of demand as price moves from 5 to 6? (2 points) What is the elasticity of demand as the price falls from 8 t0 7? (1 point) Q1-20 Q1-20 Percent Change (Midpoint Method) in Quantity Demanded 100 (Qo+Q1)/2 (Qo+Q1)/2 = Percent Change (Midpoint Method) in Price 100.P1-Po P1-Po (Po+P1)/2 (Po+P1)/2

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