Question: Assume a price decrease from currently 5.00 to 3.00 for your product. Calculate the price elasticity of demand. QDemand =-(1/20)P3 + 35 = a) Assume

Assume a price decrease from currently 5.00 to 3.00 for your

  1. Assume a price decrease from currently 5.00 to 3.00 for your product. Calculate the price elasticity of demand.

QDemand =-(1/20)P3 + 35 = a) Assume a price decrease from currently 5.00 to 3.00 for your product. Calculate the price elasticity of demand. b) is the demand elastic or inelastic

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