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Suppose the equilibrium price in the market is $60 and the marginal revenue associated with the...

Suppose the equilibrium price in the market is $60 and the marginal revenue associated with the linear (inverse) demand function is $20. Then we know that the own price elasticity of demand is: -2 2 -1.5 It cannot be determined from the information contained in the question.

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60 MR 2 Mレ Ed E d 1.5 Mo

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