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4. Elasticity of Demand (10 points) Suppose the market demand function for a particular product is 011 P' so that the market demand schedule for
4. Elasticity of Demand (10 points) Suppose the market demand function for a particular product is 011 P' so that the market demand schedule for particular product is as follows: 1 P $10 9 8 2 3 9 10 7 6 5 4 3 4 5 6 7 8 a) Calculate the elasticity of demand at prices of $8. $5, and $3. b) At which of the three prices. if any, is demand elastic
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