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The Dolan Corporation which makes leather bags, determines that in 2018 the demand curve for its product is P = 2,000 - 50Q (ii)If managers

The Dolan Corporation which makes leather bags, determines that in 2018 the demand curve for its product is

P = 2,000 - 50Q

(ii)If managers set a price of Sh. 500, how many bags will Dolan sell per month?

[2 marks]

(iii)What is the price elasticity of demand if price equals Sh. 500?[2 marks]

(iv)At what price, if any, will the demand for Dolan's bags be of unitary elasticity?

[2 marks

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