Answered: same item is PaQ - b = 0. Find the…

same item is PaQ - b = 0. Find the values of a and b if it is known that the mark equilibrium price is 108 and that demand is unit elastic at P = 50.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter3: Demand Analysis

Section: Chapter Questions

Problem 6E

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