Suppose a firms demand curve is given by p 120

Economics

Suppose a firm's demand curve is given by P = 120 - 0.5Q. Find the (value of) price elasticity of demand (point elasticity) for the demand curve when the price is $100. Is demand elastic or inelastic?

Please list steps and explain why demand is elastic or inelastic.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91520293

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