A good without any close substitutes is likely to have relatively _________ demand, because consumers cannot easily switch to a
1 answer:
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Answer:
See photo (again)
Step-by-step explanation:
Start off by combining like terms on the LHS (the terms with x in them).
So we get
Replacing this result with what we had before on the LHS, we get
⇒Solve for x (divide both sides
)
⇒Don't forget about reciprocity rules when dividing. This is the same as multiplying both sides by
⇒
⇒
***This is a proper fraction
So we get
Replacing this result with what we had before on the LHS, we get
⇒Solve for x (divide both sides
⇒Don't forget about reciprocity rules when dividing. This is the same as multiplying both sides by
⇒
⇒