Question: Your marketing research department estimates that the demand function for your product is equal to Suppose P= $60. Q = 2,000-20P. The absolute value of

Your marketing research department estimates that the demand function for your product is equal to Suppose P= $60. Q = 2,000-20P. The absolute value of the price elasticity of demand will be equal to 1.5. (Round your answer to two decimal places.) The demand is price elastic at this price

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