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Captain Jack Sparrow is the only producer of black pearls.The demand for black pearls is given byQ= 500-3P. Jack's cost function is given byTC(Q) =

Captain Jack Sparrow is the only producer of black pearls.The demand for black pearls is given byQ= 500-3P. Jack's cost function is given byTC(Q) = 100Q. The price elasticity of the demand for black pearls in the equilibrium is

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