(c) Lara offers 100 autograph bats. If each is priced at p dollars, it is that the demand curve dq dp for the bast will be p = 250 If price elasticily is E(p) When JE(p)| < 1, demand is inelastic and when |E(p)| > 1, demand is elastic. (1) Find the price elasticity of demand for Lara's bats. (ii) Is demand inelastic or elastic?

(c) Lara offers 100 autograph bats. If each is priced at p dollars, it is that the demand curve dq dp for the bast will be p = 250 If price elasticily is E(p) When JE(p)| < 1, demand is inelastic and when |E(p)| > 1, demand is elastic. (1) Find the price elasticity of demand for Lara's bats. (ii) Is demand inelastic or elastic?

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter6: Elasticities

Section: Chapter Questions

Problem 5P

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