Question: Suppose the weekly demand function for a product is q = 5000 / 1 + e2p - 1 where p is the price in thousands

Suppose the weekly demand function for a product is
q = 5000 / 1 + e2p - 1
where p is the price in thousands of dollars and q is the number of units demanded. What is the elasticity of demand when the price is $1000 and the quantity demanded is 595?

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