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Suppose the Demand for Good X Is Q=500P−1Q = 500 P ^ { - 1 }

Question 26

Multiple Choice

Suppose the demand for good X is Q=500P−1Q = 500 P ^ { - 1 } . This demand curve has a ________ (constant, variable) elasticity of demand equal to ________.


A) variable; -0.5
B) constant;-0.2
C) constant; -1
D) variable;-2

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