Explain why we might expect the price elasticity of demand, Microeconomics

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Explain why we might expect the price elasticity of demand

Problem

1. A linear demand curve has the equation Q 50 100P. What is the choke price?

2. Explain why we might expect the price elasticity of demand for speedboats to be more negative than the price elasticity of demand for light bulbs.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Explain why we might expect the price elasticity of demand

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