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Business, 17.03.2020 06:03 kam645

In 2007, Americans smoked 19.219.2 billion packs of cigarettes. They paid an average retail price of $4.504.50 per pack. a. Given that the elasticity of supply is 0.50.5 and the elasticity of demand is negative 0.4−0.4, derive linear demand and supply curves for cigarettes. The demand equation is

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