The British Automobile Company Is Introducing a Brand New Model

question 13

Essay

The British Automobile Company is introducing a brand new model called the "London Special." Using the latest forecasting techniques,BAC economists have developed the following demand function for the "London Special":
Q_D = 1,200,000 - 40P
What is the point price elasticity of demand at prices of (a)$8,000 and (b)$10,000?

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