Question
Consider two markets. The low demand market has demand qL = a - bp and the high demand market has demand qH = ka -
Consider two markets. The low demand market has demand qL = a - bp and the high demand market has demand qH = ka - kbp where k>1. Show that price elasticity at any given price is the same in both markets.
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Macroeconomics
Authors: Paul Krugman, Robin Wells, Iris Au, Jack Parkinson
3rd Canadian edition
1319120083, 1319120085, 1319190111, 9781319190118, 978-1319120054
