Question
the demand curve is given as Q=3507P . What is the elasticity of demand at P=20? (TIP: to calculate this, you need a second point,
the demand curve is given as Q=3507P . What is the elasticity of demand at P=20? (TIP: to calculate this, you need a second point, increase the price by 1% and find the New quantity and you will now have 2 coordinates)
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Macroeconomics A European Perspective
Authors: Olivier Blanchard, Alessia Amighini, Francesco Giavazzi
4th Edition
1292360895, 9781292360898
