Answer to Question #85899 in Microeconomics for Ayanda Lubisi

Question

A firm's demand curve is P = 1 – 2Q. The firm has a current price of R1 000 and it sells
100 units per day. What is the firm's price elasticity of demand?
1. – 1
2. – 2
3. – 5
4. Given the information, it cannot be determined.

Answer 1

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