Question
Suppose the demand curve for a product is given by Q=201P+3PS where P is the price of the product and PS is the price of
Suppose the demand curve for a product is given by Q=201P+3PS where P is the price of the product and PS is the price of a substitute good. The price of the substitute good is$2.70.
Part 2:
Suppose P=$0.60.
The price elasticity of demand is _______
(Enter your response rounded to two decimal places.)
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What Every Environmentalist Needs To Know About Capitalism
Authors: Fred Magdoff, John Bellamy Foster
1st Edition
1583672419, 9781583672419
