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ARE each statements true or false, please explain each statement clearly, thanks a lot! PA Linear Demand 1=-00 p= a- b . q a Elastic

ARE each statements true or false, please explain each statement clearly, thanks a lot!

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PA Linear Demand 1=-00 p= a- b . q a Elastic Demand 1=-1 a/2 Inelastic Demand Marginal Revenue a/2b a/b q Given this setup, evaluate the truth or falsehood the following statements independently (i.e. not in combination). "If they are willing to allow other variables to adjust accordingly, individual firms can.. i. ...sell some quantity of their goods at whatever price they like, up to a maximum price of a." ii. ...sell whatever quantity of their goods that they like at some price, up to a maximum quantity of a/b." iii. ...choose to take in whatever level of profits they like, up to a maximum of a2 /4b." iv. ...choose the level of technology that they use."

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