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Market Demand Is Given as QD = 140 - 5P

Question 311

Multiple Choice

Market demand is given as QD = 140 - 5P.Market supply is given as QS = 2P.If price increases from $25 to $27,what is the price elasticity of demand?


A) 0.013
B) 0.13
C) 1.3
D) 13.0

Correct Answer:

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