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PART II: Elasticity 2. a) What is the formula for price elasticity of demand? (use calculus) (10 points) b) What is the expected sign of

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PART II: Elasticity 2. a) What is the formula for price elasticity of demand? (use calculus) (10 points) b) What is the expected sign of price elasticity of demand? Explain the reasoning in economic theory behind the sign. (5 points) c) Given the following demand function, obtain the expression for price elasticity of demand. {10 points) Q(P) 2 45m

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