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The demand and supply curves for a good are given by QD=502P and QS=P1. a. Calculate the price elasticity of demand at the equilibrium price.

The demand and supply curves for a good are given by QD=502P and QS=P1. a. Calculate the price elasticity of demand at the equilibrium price. b. Calculate the price elasticity of supply at the equilibrium price. c. Is supply or demand more elastic at equilibrium price

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