If the demand curve for bread is given as Q = 300 – 16p, (5 marks) a. What is the point elasticity of demand when price is 1.50? b. What will be your pricing decision if you want to increase total revenue? To increase or decrease price?

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If the demand curve for bread is given as Q = 300 – 16p, (5 marks)
a. What is the point elasticity of demand when price is 1.50?
b. What will be your pricing decision if you want to increase total revenue? To increase
or decrease price?

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