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What is the coefficient if the initial price

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Suppose the demand for baby shoes in a small town is described by the following equation: Q = 50 - aP, where Q is the quantity of baby shoes demanded, P is the average price of a pair of baby shoes and the coefficient on P (in this case "-a") measures the effect of a $1 change in price on quantity demanded. If the price elasticity of demand is known to be -0.5, what is the coefficient if the initial price is 10 and quantity demanded is 100?

Reference no: EM132244266

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