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Given Q1= 416-0.6P1-0.1P2-0.3Y , P1=20 , P2=40 , Y = 1000 Calculate the following: 1.Calculate Q1. 2. Calculate the price elasticity of demand Ep1 round

Given Q1= 416-0.6P1-0.1P2-0.3Y , P1=20 , P2=40 , Y = 1000 Calculate the following: 1.Calculate Q1. 2. Calculate the price elasticity of demand Ep1 round the answers to 4 decimal places

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