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OCW Scholar - Principles of Microeconomics
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OpenStudy (anonymous):
On problem set 1, question 4a: Reviewing the answers, how did they get b= 1.25. “We know from the equation for own-price elasticity of demand that -b(Px/Xd) = -b(20/100) = −0.25 Solving for b, then, we have b= 1.25.”
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