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4. Suppose the demand a product given as: Qd = 2400 − 4p (a) At what...

4. Suppose the demand a product given as: Qd = 2400 − 4p (a) At what price is the price elasticity of demand equal to zero? (b) When the price elasticity of demand equal to 1, what’s the quantity being demand at that point? (c) Figure out at what price, the price elasticity of demand is infinite, and explain what does infinite price elasticity of demand mean? (d) What’s the change of revenue generated by sale when the price elasticity of demand falls from infinite to 1.

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Suppose the demand a product given as: Qd = 2400-4p (a) At what price is the price elasticity of demand equal to zero? Soluti

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