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April 18, 2015

April 18, 2015

Posted by **Steff** on Wednesday, June 15, 2011 at 1:10pm.

Compute the elasticity of demand and determine whether the demand is elastic, unitary, or inelastic at p=50.

a) 5; elastic

b) 1/9; inelastic

c) 7/6; elastic

d) 6; elastic

I choose answer A. Is that correct?

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