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find out the price elastcity of demand for coffee when the price decrease from R3.10 to R2.90. Inteprete the elasticity find outd in 1. using diagrams describe the concepts of ecomies ofscale.
Microeconomics, Economics
Market equilibrium. Demand : QD = 20 - 3P Supply: QS = -8 +2P Draw the demand and supply curves on one graph and solve for the equilibrium price and quantity
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