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What is your price elasticity of demand

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Suppose that your demand curve for X is given by the equation X = c ? dP where P is price and c and d are positive constants. a. Derive a formula for your price elasticity of demand for X, and write your formula in terms of X alone. b. When you consume zero units of X, what is your price elasticity of demand? When the price of X is zero, what is your price elasticity of demand?

Reference no: EM13146056

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