Question: Problem 1. Suppose the demand for an item is given by the equation P+P(q+1)=740 where p is the price in dollars and q is

Problem 1. Suppose the demand for an item is given by the

Problem 1. Suppose the demand for an item is given by the equation P+P(q+1)=740 where p is the price in dollars and q is hundreds of units demanded. Find the elasticity of demand when the price is $20.

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