Consider a demand function of the form q = ae-bp, where a and b are positive numbers.
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Consider a demand function of the form q = ae-bp, where a and b are positive numbers. Find E(p), and show that the elasticity equals 1 when p = 1>b.
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Related Book For
Calculus And Its Applications
ISBN: 9780134437774
14th Edition
Authors: Larry Goldstein, David Lay, David Schneider, Nakhle Asmar
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