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Question 3 Assume the following demand curve: Q = 100,800 3,904(P). Calculate elasticity for a price change from $17.10 to $18.70. Report your answer as

Question 3

Assume the following demand curve: Q = 100,800 3,904(P). Calculate elasticity for a price change from $17.10 to $18.70. Report your answer as a POSITIVE number, rounded to one decimal place.

Question 4

Assume the following demand curve: Q = 1,400 135(P). Variable costs = $3.50. Calculate the optimal price. Round to two decimal places.

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