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 =
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