Absolute terms of demand at the equilibrium

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Reference no: EM131199884

Vintage champagne has the following demand function Qd = 100 -2P and a supply curve given by the following Qs=20. What is the value of own price elasticity in absolute terms of demand at the equilibrium?

  • 1/4
  • 1/3
  • 2/3
  • 4
  • infinite

Reference no: EM131199884

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