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Question: currently demand elasticity for the product you produce is ep...

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Currently, demand elasticity for the product you produce is ep= -1.85and you sell Q1=20at P1=8. Your total cost is fixed at $5per unit produced. A client would like to purchase Q2=24at a lower price (P2). Compute P2 and determine if it would be profitable to satisfy your client. What range of prices would generate profit for you?

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