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April 16, 2014

Homework Help: Stats

Posted by Sally on Tuesday, September 18, 2012 at 11:09pm.

Problem 29.
Demand for cookies (Q) is given as follows:

Q = 180/Pc + I/Pd + 3

Pc = price of cookies
I = income
Pd = price of donuts

Note: Q=28, Pc=10, Pd=7

Given the above information what is the price elasticity of demand at Q=28?

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