Question
The price-elasticity of demand for a monopolistic firm's product is proportional to p 2/3 , where p is the price of the firm's product. When
The price-elasticity of demand for a monopolistic firm's product is proportional to p2/3, where p is the price of the firm's product. When the price is p0= 10, the demand is q0= 1000 and when the price is p1= 15, then demand is q1 = 600. What will the demand be when the price is p2= 20?
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A Textbook Of Mathematical Economics
Authors: Dr Chandrakant Singh
1st Edition
9353140986, 9789353140984
