Explain at the current price- eight units are demanded

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Reference no: EM1365279

A consultant estimates the price-quantity relationship for shillong pizzas to be P = 50 - 5Q.

a. At what output rate is demand unitary elastic?

b. Over what range of output is demand elastic?

c. At the current price, eight units are demanded each period. If the objective is to increase total revenue, should the price be increased or decreased? Explain.

Reference no: EM1365279

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