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QUESTION

Suppose the market demand curve for a good is represented by the linear equation Q = 60 - 0.

Suppose the market demand curve for a good is represented by the linear equation Q = 60 - 0.75P. If the market price were to decrease from P = $60 to P = $40, then holding all other factors constant, how many units would quantity demanded change and how many dollars would total expenditures increase/decrease?

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