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(Solved): 13)The supply of a certain good is given by x = ap b, where x is quantity supplies, p (which ...



13)The supply of a certain good is given by x = a?p ? b, where x is quantity supplies, p (which is greater than b) is price and a and b are positive constants. Find the expression for the elasticity of supply as a function of price and, by using calculus, show that the elasticity decreases as price increases and becomes unity at the price equal to 2b



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