Suppose a firm faces the following demand for its output q


Suppose a firm faces the following demand for its output q: q = 100 – 10p, where p represents the price it receives per unit sold. Assume this firm marginal cost is MC = 4. What is the absolute value of the price elasticity of demand at this firm’s profit maximizing level of output? NOTE: write your answer in number format, with 2 decimal places of precision level. Show all steps.

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Business Economics: Suppose a firm faces the following demand for its output q
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