Suppose that a demand function is linear-that is, q = m - np for 0 p
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Suppose that a demand function is linear-that is, q = m - np for 0 ≤ p ≤ m/n, where m and n are positive constants. Show that E = 1 at the midpoint of the demand curve on the interval 0 ≤ p ≤ m/n; that is, at p = m/(2n).
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Thus E 1 when p m2n or at the midpoin...View the full answer
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