Question: Linear Demand Function QL = 8 0 5 P Tasks: Calculate the price elasticity of demand at the following price points. Make sure to retrieve

Linear Demand Function QL

= 80 5

P Tasks: Calculate the price elasticity of demand at the following price points. Make sure to retrieve the respective level of quantity first. Classify the demand as elastic, inelastic, or unit elastic at both of these points.

= 8

= 12

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