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Calculate point elasticity of demand for demand function

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Reference no: EM132667801

The following relations describle monthly demand and supply for a computer support service catering to small business

Qd = 1500 - 5p

Qs = -500 + 5p

a. Find the equilibrium price / output level

b. Calculate point elasticity of demand for this demand function. Is it elastic, inelastic or unitary elastic?

c. Calculate the total revenue at equilibrium price.

Reference no: EM132667801

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