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5. The linear demand function for a product is given by:
Q P = − 50 5
Where Q is quantity demand and P is price of the product
a. Calculate the slope of the demand curve (i.e. the marginal demand)
b. Substituting this value into the price elasticity of demand formula we obtain ∈=
c. From this formula derive the price elasticity of demand at P = 10, P = 5 and P = 0.
At P = 10:
Attachment:- 327556_1_Group-Assign-14-Univariate-Calculus--Part-B---PDF-.pdf
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