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corie corie
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6 years ago
Suppose that the demand for artichokes (Qa) is given as:
   Qa = 120 - 4P
a.   What is the point price elasticity of demand if the price of artichokes is $10? 
b.   Suppose that the price of artichokes increases to $12. What will happen to the number of artichokes sold and the total expenditure by consumers on artichokes? 
c.   At what price if any is the demand for artichokes infinitely elastic?
Textbook 
Microeconomics

Microeconomics


Edition: 8th
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boransalboransal
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