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What is the price-elasticity of demand at this point

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Reference no: EM131668868

Suppose the demand for crossing the Chargem Bridge is given by ???? = 10,000-1000????, where P is in $/car and Q is the number of cars per day.

a. If the toll (P) is $2/car, how much revenue is collected daily?

b. What is the price-elasticity of demand at this point?

c. Could the bridge authorities increase their revenues by changing their price?

Reference no: EM131668868

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