4.9 You are a literary agent for an author who writes very popular mystery novels. As the...
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4.9 You are a literary agent for an author who writes very popular mystery novels. As the agent, you receive 0.5 percent of the total revenue from sales of the books. You are currently in negotiations with Amazon about the price Amazon will charge for your author’s e-books. You believe that your author’s books are unique—no one else writes similar stories. What implication does this belief have for your estimate of the price elasticity of demand for your author’s books and for your negotiations with Amazon?
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