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assume the demand for an item is x=1000-4p^3 where x is the quantity and p is the price per quantity. if p=$1.20 a) Is demand
assume the demand for an item is x=1000-4p^3 where x is the quantity and p is the price per quantity. if p=$1.20 a) Is demand elastic or inelastic?
b) Will a 5% increase in the price cause revenue to increase or decrease?
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