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List the determinants of demand and supply

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1. Calculate the price elasticity of demand for the following problem. Suppose that as the price of Y increases from $8.00 to $10.20, the quantity demanded decreases from 420 to 260. Is demand elastic, inelastic or unit elastic? Calculate the revenue at each price and quantity

2. Define the term "derived demand" and give an example.

3. List the determinants of demand and supply.

Reference no: EM132795637

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