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Question $1\mathrm{.}5$ The demand curve for a good is

$Q=500-4p^2$

What is the elasticity at the point $p=5$ and $Q=400?$ Is the demand curve elastic or inelastic at this point? $($Hint $d\frac{Q}{d}p=-8p,$ which evaluates to $d\frac{Q}{d}p=-85=-40$ at $p=5.$