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Price elasticity of demand and a linear demand function

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Reference no: EM132519549

Consider the definition of price elasticity of demand and a linear demand function: Q = 10-2P. What is the price elasticity of demand when P = 3? How is this elasticity compared with the price elasticity of demand when P = 2? That is, which one is more elastic (or equally elastic)? Clearly explain your answer.

Reference no: EM132519549

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