Problem
The demand for a product is Qd A - BP, where P is its price and A and B are positive numbers. Suppose that when the price is $1 the amount demanded is 60 and the elasticity of demand is -1. What are the values of A and B?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.