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      Question

      Suppose the demand function for a certain commodity is

      given by:                                                      Q = 800 – 4P What is the price elasticity of demand when the market price (P) is 50?
      A −0.25 Correct Answer Incorrect Answer
      B −0.33 Correct Answer Incorrect Answer
      C −1.00 Correct Answer Incorrect Answer
      D −0.50 Correct Answer Incorrect Answer

      Solution

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