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Calculate point elasticity of demand

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How much net (i.e. after tax) profit does a firm make if it produces 440 units of a good at an average cost of $3.40 each, and pays $0.15 tax to the government on each unit sold at the market price of $3.95, assuming it sells everything it produces?

For the demand schedule P = 24 - 0.125Q, calculate point elasticity of demand when price is $15.

Reference no: EM133079641

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