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Point of the curve expenditures on the goods

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Reference no: EM131668856

Consider the demand curve Q=100-50P.

a. Draw the demand curve and indicate which portion of the curve is elastic, which portion is inelastic, and which portion is unit-elastic.

b. Without doing any additional calculation, state at which point of the curve expenditures on the goods are maximized and then explain the logic behind your answer.

Reference no: EM131668856

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