Is demand for crab cakes elastic-unit-elastic or inelastic

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Reference no: EM131236568

Suppose that the demand function for crab cakes is equal to Qd = 200P^(-1)

(a) Using calculus calculate the price elasticity of demand when P = $20.

(b) Is demand for crab cakes elastic, unit-elastic, or inelastic? Briefly explain

Reference no: EM131236568

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