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- Given the demand for a product is Q = ln4 - 0.5 lnP a) The demand for this product is (CIRLCE THE CORRECT ANSWER)

- Given the demand for a product is

Q = ln4 - 0.5 lnP

a) The demand for this product is (CIRLCE THE CORRECT ANSWER)

ElasticInelasticUnitary Elastic

b) By how much will consume increase if the price falls 5%? Show work detail

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