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SOLVED: Recall that the price elasticity of demand E is the percentage rate of decrease of demand divided by the percentage increase of price, given by the formula: E = dq /
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SOLVED: Calculate the elasticity of demand for the demand schedule by using the differential calculus method p = 60 - 0.2q, where price is 1. Rs 0, 2. Rs 20, 3. Rs 40. Give a detailed answer.