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Example 4.2 A company manager Fiona was given a demand function for a product which can be expressed as Q=20.P^(-0.5). What is the own price

Example 4.2

A company manager Fiona was given a demand function for a product which can be expressed as Q=20.P^(-0.5). What is the own price elasticity of demand? Is it elastic or inelastic? Justify your answer.

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