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Calculate the elasticity of the following demand equation P=150e200q for the value of q=300. Explain if the demand is elastic, inelastic or unit elastic. Interpret

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Calculate the elasticity of the following demand equation P=150e200q for the value of q=300. Explain if the demand is elastic, inelastic or unit elastic. Interpret the economic meaning of the elasticity value. (7 marks) Calculate the elasticity of the following demand equation P=150e200q for the value of q=300. Explain if the demand is elastic, inelastic or unit elastic. Interpret the economic meaning of the elasticity value. (7 marks)

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