Compute the elasticity of demand in going

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Reference no: EM1327609

Elasticity of demand : explained

The following is a straight-line demand curve:

Price Quantity Demanded

$12 1
10 2
8 3
6 4
4 5

a) Calculate the elasticity of demand in going from 2 unit to 3 units.

b) Is the demand elastic or inelastic in this range

Reference no: EM1327609

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