Question
Suppose the demand function for a good is expressed as Q = 80 - 2p. If the good currently sells for $15, find the price
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Suppose the demand function for a good is expressed as Q = 80 - 2p. If the good currently sells for $15, find the price elasticity of demand. Also explain how the elasticity is expected to change if the price goes up above $15?
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Econophysics And Financial Economics An Emerging Dialogue
Authors: Franck Jovanovic, Christophe Schinckus
1st Edition
0190205032, 9780190205034
