Suppose that the inverse demand curve for a new laptop computer can be expressed as 
, where price is in dollars and quantity is in number of laptops.
a. What is the price elasticity of demand at a quantity of 625?
b. Is the demand for these laptops elastic or inelastic?
Definitions:
False Statement
A declaration that is untrue or misleading, possibly made with the intention of deceiving the recipient.
Tort Liability
A legal obligation arising from civil wrongs or injuries for which a court provides a remedy in the form of damages.
Intentional Pattern
Purposeful and systematic behaviors or actions, frequently discussed in legal contexts to demonstrate deliberate conduct.
Outrageous Abuse
An extreme form of misconduct or mistreatment that is shocking and exceeds the bounds of decency.
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