Calculate value of price elasticity of demand

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Reference no: EM1372511

Q. On basis of three individual demand schedules below and assuming se three people are only ones in society, determine (a) market demand schedule on assumption that good is a private good and (b) collective demand schedule on assumption that good is a public good.

Q. For a product, at a price of $3, quantity demanded is 60 units and at a price of $5 quantity demanded is 40 units. Using midpoint formula, calculate value of price elasticity of demand.

Reference no: EM1372511

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