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Suppose the demand for the IBM personal computer is:
Qd = 2400 − 4p
(a) At what price is the price elasticity of demand equal to zero?
(b) When the price elasticity of demand equal to 1, what’s the quantity being demand
at that point?
(c) Figure out at what price, the price elasticity of demand is infinite, and explain
what does infinite price elasticity of demand mean?
(d) What’s the change of revenue generated by sale when the price elasticity of demand falls from infinite to 1.