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Calculate the price elasticity of demand

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Reference no: EM131695603

1. Suppose the demand for a product is given by QD = 50 - (1/2)P.

a) Calculate the Price Elasticity of Demand when the price is $60.

b) What price should the firm charge if it wants to maximize its revenue?

c) Over what price range is demand elastic?

Reference no: EM131695603

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