Without using the midpoint formula can you tell whether, Ask an Expert

Economics

Q. The president of the International Intellectual Property Alliance states that "[a] CD costs 15 cents to produce." If that is true then why do CDs cost upwards of 100 times that in retail marketplaces?

Q. Assume that the total revenue received by a company selling basketballs is $720 when the price is set at $30 every basketball also $720 when the price is set at $20 every basketball. Without using the midpoint formula, can you tell whether demand is elastic, inelastic, or unit-elastic over this price range?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9170929

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