The demand function for product X is defined as Qx = 500 � 4Px.a) .pdf
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The demand function for product X is defined as Qx = 500 � 4Px.a) .pdf

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The demand function for product X is defined as Qx = 500 4Px. a) By creating a demand schedule, draw the demand curve. b) If the price increases from 20 to 25, calculate the elasticity. c) Specific demand whether the demand for X between price 20 and 25 is elastic or inelastic (4 mark).

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The demand function for product X is defined as Qx = 500 � 4Px.a) .pdf

  1. The demand function for product X is defined as Qx = 500 4Px. a) By creating a demand schedule, draw the demand curve. b) If the price increases from 20 to 25, calculate the elasticity. c) Specific demand whether the demand for X between price 20 and 25 is elastic or inelastic (4 mark)