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1- Consider the following linear demand curve: Qd= 23 -2P. What does the absolute value of the price elasticity equal if P =5? 2- Consider

1- Consider the following linear demand curve: Qd= 23 -2P. What does the absolute value of the price elasticity equal if P =5?

2- Consider the following linear demand curve: Qd= 55 -3P. What does the absolute value of the price elasticity equal if P =12?

3- Consider the following linear demand curve: Qd= 20 -0.25P.How much is the market willing to pay for the 5th unit?

4 - Consider the following linear demand curve: Qd= 20 -0.25P.What is the total amount the market is willing to pay for the 6 units?

5- Consider the following linear demand curve: Qd= 10 - (1/3)P.What is the total amount the market willing to pay for the 9 units?Assume a continuous demand function.

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