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Find the relationship between mr and p

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Reference no: EM131709396

Given the equation, and using the absolute value of ED: MR = P * [ 1 - (1 / [ED])]

Find the relationship between MR and P if ED = - 2.

Then solve for ED if price (P) is set 100% above MR; that is, P = 2 MR

Reference no: EM131709396

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