Q = 250 − 5Q
I am having trouble figuring out what is the elasticity of demand when demand is equal to 40? and why we use elasticity measures rather than just the slope of a demand curve to talk about how quantity responds to price changes? Thanks!
Q = 250 − 5Q
I am having trouble figuring out what is the elasticity of demand when demand is equal to 40? and why we use elasticity measures rather than just the slope of a demand curve to talk about how quantity responds to price changes? Thanks!
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