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Use the Price-Demand Equation to Determine Whether Demand Is Elastic

Question 58

Multiple Choice

Use the price-demand equation to determine whether demand is elastic, is inelastic, or has unit elasticity at the indicated
values of p.
-x = f(p) = 214 - 5p; p = 31.


A) Inelastic
B) Elastic
C) Unit elasticity

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