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QUESTION 3 (30 MARKS) Calculate and interpret the elasticity of demand for each of the following demand functions at point where price is N$12: i.

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QUESTION 3 (30 MARKS) Calculate and interpret the elasticity of demand for each of the following demand functions at point where price is N$12: i. P = 65 - 0.400.5 [5 marks] ii . 4P + 2006 = 74 [5 marks] iii. Q0.5 = 60 - 0.5P [5 marks] iv . 5P = 120 - 302 [5 marks]

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