Question
The market demand for a litre of mineral water is P = 10 0.05Q. The producer wants to produce where the elasticity of demand is
The market demand for a litre of mineral water is P = 10 0.05Q. The producer wants to produce where the elasticity of demand is unity. What price should she charge, and what quantity should be sold to achieve that goal?
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Macroeconomics
Authors: David Colander
8th edition
978-0078004407, 78004403, 978-0077247171, 77247175, 978-0077307110
