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Unformatted text preview: individual linear demand curves for a private good. 3. Give a definition of the price elasticity of demand, the mathematical formula for it and its interpretational value. 4. Be able to explain (with the help of a formula and a graph) the exact relationship between the slope and the price elasticity of demand for a linear demand curve. 5. Be able to define elastic, inelastic and unit elastic demand. 6. Be able to describe the relationship between price elasticity of demand and total revenue....
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 Spring '08
 Hansen
 Economics, Microeconomics

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