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Calculate the price elasticity of demand for the following demand functions: (a) Q = 5 - ln(P) for P=8 (b) Q = 2000 - 0.5P^3 for P=15 (0.5 multiplied by p cubed) (c) Q = (12-P)^2 (12-P)squared for P=10 (d) P= 2/Q for P=1
Microeconomics, Economics
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