Essay
The demand function for a manufacturer's product is given by p = 300 - 
,where p is the price per unit when q units are demanded.
(a)Determine the point elasticity of demand when q = 5.
(b)For q = 5,is demand elastic,inelastic,or does it have unit elasticity?
(c)For what value of q does demand have unit elasticity?
Correct Answer:
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(a)- 
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Correct Answer:
Verified
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