The demand for a product is Qd = A - BP, where P is its price and

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The demand for a product is Qd = A - BP, where P is its price and A and Bare positive numbers. Suppose that when the price is $1 the amount demanded is 60 and the elasticity of demand is -1. What are the values of A and B?

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Microeconomics

ISBN: 978-1118572276

5th edition

Authors: David Besanko, Ronald Braeutigam

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Question Posted: Mar 18, 2016 04:40 AM

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The demand for a product is Qd = A - BP, where P is its price and

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A 120 B 60 Explanation Derive the linear demand curve Step ...View the full answer

Microeconomics

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