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Cameroon GCE A-Level Economics Practice Questions - Cameroon General Certificate Of Education Advanced Level - Economics (0725) Exam

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The market demand equation for a consumer good is given by $Q_d = 400 - 5P$, where $P$ is the price in FCFA and $Q_d$ is the quantity demanded in units. What is the point price elasticity of demand ($PED$) at a price of 40 FCFA?
Correct Answer:
-1.00

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