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Price 10 8 6 4 2 a 2 b 4 C d 6 8 e Demand Curve 10 Quantity 3) In the above figure, along the section of the demand curve between point a and point b, what is the elasticity of demand? Show calculations
8) The price of good X is $5 and the price of good Y is $15. If the marginal utility of good X is 20 then what must be the marginal utility of good Y to have an optimum combination of goods purchased? Show calculations.
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