Question: Given the demand function P = 500 - 4Q^2 (a) Calculate the price elasticity of demand averaged along an arc joining Q = 8 and

Given the demand function P = 500 - 4Q^2

(a) Calculate the price elasticity of demand averaged along an arc joining Q = 8 and Q = 10.

(b) Find the price elasticity of demand at the point Q = 9.

(c) Estimate the percentage change in demand if the price rises by 5%

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