A firm in perfectly competitive market has the following the following demand, total variable cost (TVC) and
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A firm in perfectly competitive market has the following the following demand, total variable cost (TVC) and total fixed costs.P=12-20TVC 1/20Q3+17Q2TFC = 50i.
Compute price elasticity of demand when the price and quantity demanded are 2 and 20 respectively.
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Authors: Melissa Barker, Donald I. Barker, Nicholas F. Bormann, Krista E. Neher
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