(Answered) The demand curve is qdnbsp 500

Management Studies

The demand curve is: Q_D = 500 - 1/2 P.

Calculate the (point) price elasticity of demand when price is $100. Is demand elastic or inelastic?
Calculate the (point) price elasticity of demand when price is $700. Is demand elastic or inelastic?
Find the point at which point elasticity is equal to -1.

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