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For each demand function, find an expression for the price elasticity of demand. 1. D(p)=60−p 2. D(p) = 40p^−2 3. D(p)=(p+2)^−1

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

For each demand function, find an expression for the price elasticity of demand.

1. D(p)=60−p
2. D(p) = 40p^−2
3. D(p)=(p+2)^−1

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