# 25. Elasticity of DemandQuestionSuppose that the price p of a product and its demand x are related through the price-demand equationx+400p = 8, 000.It can be shown that the elasticity of demand is elastic for10

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2 views help_outlineImage Transcriptionclose25. Elasticity of Demand Question Suppose that the price p of a product and its demand x are related through the price- demand equation x+400p = 8, 000. It can be shown that the elasticity of demand is elastic for 10 help_outlineImage Transcriptionclose25. Elasticity of Demand UAICLL LIIE CUITELL aliSvVEI UCIUW. O For any price that is less than 10 or greater than 20, an increase in price will result in a decrease in revenue. O For any price between 10 and 20, an increase in price will result in an increase in revenue. O For any price between 10 and 20, an increase in price will result in a decrease in revenue. O None of the above fullscreen
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Third option is the correct option.

Consider given price demand equation and the condition for the elasticity of the demand. ...

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