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(Solution) - You are given the following information Price elasticity of demand

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You are given the following information:
? Price elasticity of demand for cigarettes at current prices is ?0.5.
? Current price of cigarettes is $0.05 per cigarette.
? Cigarettes are being purchased at a rate of 10 million per year.
Find a linear demand that fits this information, and graph that demand curve.


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This question was answered on: Jul 11, 2017

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