Economics alfa (a) = 5, and beta (B) = 10 Q4. (a) Suppose a decrease in price from $100 to $5 causes an increase in QD from 1008 to 120. Calculate price elasticity of demand.

Algebra & Trigonometry with Analytic Geometry
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Chapter5: Inverse, Exponential, And Logarithmic Functions
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Economics
alfa (a) 5, and beta (B) =
=
= 10
Q4. (a) Suppose a decrease in price from $100 to $5 causes an increase in Q from 1003 to 120. Calculate
price elasticity of demand.
(b) Given the demand equation, P = 100-1/aQ, calculate the price elasticity of demand when P = $20.
Transcribed Image Text:Economics alfa (a) 5, and beta (B) = = = 10 Q4. (a) Suppose a decrease in price from $100 to $5 causes an increase in Q from 1003 to 120. Calculate price elasticity of demand. (b) Given the demand equation, P = 100-1/aQ, calculate the price elasticity of demand when P = $20.
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