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Market Demand Is Given as QD = 300 - 6P

Question 287

Multiple Choice

Market demand is given as QD = 300 - 6P.Market supply is given as QS = 4P.If price increases from $35 to $38,what is the price elasticity of demand?


A) 0.3
B) 0.4
C) 1.7
D) 2.7

Correct Answer:

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