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Given the Demand Function QX = 1500 - 100PX

Question 117

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Given the demand function QX = 1500 - 100PX + 75PY + 1.5I + .06A where PY = $40.00. I = $2500, and A = $5,000. For the range from PX = $60.00 to PX = $75.00, the arc price elasticity of demand is -3.75.

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