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Demand for a product is given by the function: P = 10 - 2q Total cost: C = 2q The price elasticity of demand at

Demand for a product is given by the function:

P = 10 - 2q

Total cost: C = 2q

The price elasticity of demand at q = 3 is:____ and demand is____(elastic/inelastic/unit elastic).

Profit is maximized when ____ units are produced and the maximum profit is $____.

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