Calculate the price elasticity of demand when price

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Reference no: EM13987095

The demand curve is: QD = 500 - 1/2 P.

Calculate the (point) price elasticity of demand when price is $100. Is demand elastic or inelastic?

Calculate the (point) price elasticity of demand when price is $700. Is demand elastic or inelastic?

Find the point at which point elasticity is equal to -1.

Reference no: EM13987095

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