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The Demand Equation for a Product Is , Where

Question 56

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The demand equation for a product is The demand equation for a product is , where q is the number of units produced, p is the price of each unit, and a and b are positive constants. Find a formula, in terms of p, for the elasticity of demand. , where q is the number of units produced, p is the price of each unit, and a and b are positive constants. Find a formula, in terms of p, for the elasticity of demand.

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