The authors of an article in an economics journal state that if D(q) is the demand function,
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The authors of an article in an economics journal state that if D(q) is the demand function, then the inequality qD″(q) + D′(q) < 0 is equivalent to saying that the marginal revenue declines more quickly than does the price. Prove that this equivalence is true.
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Let Dq represent the demand function The revenue function ...View the full answer
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