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Assume a price decrease from currently 5.00 to 3.00 for your product. Calculate the price elasticity of demand. Is the demand elastic or inelastic?

Assume a price decrease from currently 5.00 to 3.00 for your product. Calculate the price elasticity of demand. Is the demand elastic or inelastic? QDemand = -(3/100)P + 22

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dQ dP 100 9 x p Now to find the price elasticity of demand at the initial price of 500 we plu... blur-text-image

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