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Problem 5: The price eiastieit}; of demand for sales of new autos has been estimated to be about 1_ 5. Data from the NationalAuto Dealers
Problem 5: The price eiastieit}; of demand for sales of new autos has been estimated to be about 1_ 5. Data from the NationalAuto Dealers Association for ZIJEIJ (latest data available} shows that in Louisiana 24 new cars were sold that year. In 2020, the average retail price of a new car was WEBB. Using this information, derive the linear demand function for new car sales in Louisiana in ZGZ'E} with price measured in thousands of dollars and quantity measured in thousands of ears. Show workl
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