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Please give specific answer,step by step 4. Starting from the definition of the Lerner index, P-MC derive the equivalent expression, is the price elasticity of

Please give specific answer,step by step

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4. Starting from the definition of the Lerner index, P-MC derive the equivalent expression, is the price elasticity of demand. " P =, where E5. Starting from the ratio of price to marginal cost, % , derive the equivalent expression % where E is + E the price elasticity of demand. u

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