How economic analysis be used as a tool to discover truth

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Q. demand function for a cola-type soft drink in general in Q=20-2p, where Q stand for quality & P stand for cost-Estimate point elasticity at cost of 5&9 is demand curve elastic or inelastic at se point? Estimate arc elasticity at interval between P=5 & P=6.

Q. Can Economic Analysis be used as a tool to discover truth and to assist in solution of concrete/major problems in an organization? How?

Reference no: EM1367900

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