6.18 . Given Q = 700 – 2P +0,027 , where P = 25 and Y = 5000. Find ( a ) the price elasticity of demand and ( b ) the income elasticity of demand .
6.18 . Given Q = 700 – 2P +0,027 , where P = 25 and Y = 5000. Find ( a ) the price elasticity of demand and ( b ) the income elasticity of demand .
Chapter6: Elasticity
Section: Chapter Questions
Problem 3QP: Prove that price elasticity of demand is not the same as the slope of a demand curve.
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6.18 . Given Q = 700 – 2P +0,027 , where P = 25 and Y = 5000. Find ( a ) the
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