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6. The price-demand equation a product is given by p +30p+q=1500 where p is the price in dollars and q is the quantity. 10 pts

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6. The price-demand equation a product is given by p +30p+q=1500 where p is the price in dollars and q is the quantity. 10 pts Find elasticity of demand when p = $20. State whether the demand is elastic, inelastic, or unitary elastic. a. b. 4pts At a price of $20, will revenue increase or decrease if the price increased. Explain your reasoning

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