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Can you please help me out with the following task. Thank you! Suppose that the market demand for widgets is linear: Qo = a -

Can you please help me out with the following task. Thank you!

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Suppose that the market demand for widgets is linear: Qo = a - bP a. Derive a formula for the point elasticity of demand as a function of price (P). ED: b. Find ED at each of the following points (label points in diagram): P = a/b (vertical intercept) P = 3a/4b

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