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Calculate the price elasticity of demand

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Reference no: EM131715294

A demand curve is given by the following equation: P = -4Q + 160.

i) Calculate the Total Revenue when Q = 25 and when Q = 28.

ii) Calculate the price elasticity of demand between Q = 25 and Q = 28. Round decimal answers to two places.

Explain why the relation between the numbers in (i) and (ii) makes sense

Reference no: EM131715294

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