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When given two demand functions to calculate elasticity of demand do you use point elasticity or arc elasticity of demand formula
demand function is q=4850 - 5p(1) + 1.5p(2) + 0.1 Y WHEN Y=10000 p(1)=200 p(2)= 100 find income elasticity of demand for p(1)
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Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
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