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The demand curve for a product is given Qd = 1500 − 5Px − 0.2Pz
by where Pz = $300.

b. What is the own price elasticity of demand when Px =
$125?

Is demand elastic or inelastic at this price?

What would happen to the firm’s revenue if it decided to charge
a price above $125?

Please typewrite your answers, no handwritten answers
please.

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