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A country that is the major supplier of a certain commodity wishes to improve its balance of trade position by lowering 1000 the price of
A country that is the major supplier of a certain commodity wishes to improve its balance of trade position by lowering 1000 the price of the commodity. The demand function is q = p (a) Compute E(p). (b) Will the country succeed in raising its revenue? (a) E() = (Simplify your answer.) (b) Will the country succeed in raising its revenue? 0 Yes
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