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Market Demand Is Given as QD = 250 - 0

Question 237

Multiple Choice

Market demand is given as QD = 250 - 0.5P.Market supply is given as QS = 2P.If price increases from $48 to $52,what is the price elasticity of demand?


A) 0
B) 0.1
C) 3.2
D) 11.0

Correct Answer:

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