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1)The demand curve for a product is given by the equation Qd = 22 - 0
1)The demand curve for a product is given by the equation Qd = 22 - 0.2P.
When the price of the product is $10, the price-elasticity of demand is:
a) - 0.1.
b) - 2.5.
c) - 4.5.
d) - 5.0.
Explain your answer.
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