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For each of the following cases, find out the point price elasticity of demand, and state whether demand is elastic, inelastic, or unit elastic. The demand curve is given by QD = 5,000 - 50PX

a. The price of the product is $50.
b. The price of the product is $75.
c. The price of the product is $25

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M946661

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