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  3. 14 assume the following demand function q 400ap find the...

Question: 14 assume the following demand function q 400ap find the...

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14. Assume the following demand function: Q 400-AP Find the price range where leg 1-1 and where IEDI At P- $700 4) What is demand? (ii) What is ? (ii) Using ep, what would you expect to happen to demand if this firm raised price by a. 1 b. 7%? (fall by what %) (iv) What would you expect to happen to total revenue if this firm raised price by 7% (go up or down and why)
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