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QUESTION
The demand curve for a product is given by Qx=1.200-3Px-0.1Pz where Pz=300. what is own price elasticity of demand when Px=140? is demand elastic or
The demand curve for a product is given by Qx=1.200-3Px-0.1Pz where Pz=300.
what is own price elasticity of demand when Px=140? is demand elastic or inelastic at this price? what would happen to the firm's revenue if it decided to charge a price below 140?
