In what price interval is the demand inelastic

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Reference no: EM13744234

Consider a market given by the following demand and supply equations:

Qd-10-P

P=Q+2

a) At what prices is the demand elastic?

b) In what price interval is the demand inelastic?

c) How does revenue change from the elastic to the inelastic zone of the demand?

Reference no: EM13744234

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