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8 The demand function of a product is given as Q = 500-5P. Find out the point price elasticity demand when a) P = RS.

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8 The demand function of a product is given as Q = 500-5P. Find out the point price elasticity demand when a) P = RS. 15 and Q = 200 a) P = Rs. 50 and Q = 200 What inferences do you draw from the results when the price of a commodity increases from RS. 15 to RS. 50, the quantity demanded remaining constant

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