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Linus has a demand function q = 10 - 2p a. What is the price elasticity of demand when the price is 3? b. At
Linus has a demand function q = 10 - 2p
a. What is the price elasticity of demand when the price is 3?
b. At what price is the elasticity of demand equal to -1?
c. Suppose that his demand function takes the general form q = a - bp. Write down an algebraic expression for his elasticity of demand at an arbitrary price p.
d. How do you write an expression for total revenue as a function of the price.Please explain.
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