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Suppose a firm faces the following demand for its output q: q = a + bp, where p represents the price it receives per unit sold. Let α be the x-intercept of this demand curve (p plotted on the vertical axis and q on the horizontal axis). Let β be the x-intercept of the marginal revenue curve, where β = cα. The factor c is [c]. (NOTE: write your answer in number format, with 2 decimal places of precision level; do not write your answer as a fraction.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91720684

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