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10 October, 05:15

Suppose demand is given by q = 80 - 0.5p. what is the price elasticity of demand when p = 40?

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  1. 10 October, 05:31
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    I believe the answer to this question is: the price elasticity of demand is 60. q = 80 - 0.5 (40) is the equation I used. Half of 40 is 20, and 80 minus 20 is 60.
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