Discuss the uses of elasticity of demand

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Q. Using appropriate diagrams and notations,carefully explain the relationship b/n elasticity, total revenue and marginal revenue. 2,discuss the uses of elasticity of demand.

Q. The demand for land id given by the function Qd=2500+20P and the supply is given by the function Qs =1000000 Qd= quantity demand Qs= quantity supplied and Price solve for the equilibrium price and quantity in this market

Reference no: EM1351060

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