a) Suppose that the monthly demand for housing in Bungoma town is: le
100,000 - 10P where Qp is the quantity demanded and P is the price of the house.
Use this function to answer the following questions:
1) Using the mid-point formula for elasticity, suppose that the initial price is KES.
4000, calculate the price elasticity of demand between a price of KES 5000 and
KES.4000. Provide an intuitive explanation of your answer​