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Unformatted text preview: What does the sign of this elasticity tell you about whether golf balls and titanium are substitutes or complements? 2) (2.5 pt) You are given the following information: • Price elasticity of demand for cigarettes at current price 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 note was uploaded on 05/11/2011 for the course ECON 301 taught by Professor Sheng during the Spring '11 term at ITT Tech Pittsburgh.
- Spring '11