kuromusha
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The answer to both questions should be -0.27 according to the back of the book.
I got the elasticity correct in Q1 using arc elasticity method, but in Q2, I don't know it since the derivative dQ/dP has P in the function, so I don't know what do it since the equation to calculate point elasticity is (P/Q)x(dQ/dP).
Obviously I did something really wrong in Q2. Any advice would be highly appreciated.
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