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Let phi:R->S be a homomorphism of commutative rings
a) Prove that if P is a prime ideal of S then either phi^-1(P)=R or phi^-1(P) is a prime ideal of R. Apply this to the special case when R is a subring of S and phi is the inclusion homomorphism to deduce that if P is a prime ideal of S then PR is either R or prime ideal in R
b) Prove that if M is a maximal ideal of S and phi is surjective then phi^-1(M) is maximal ideal of R. Give an example to show that this need not be the case if phi is not surjective.
Determine where the demand is elastic, inelastic, and of unit elasticity with respect to price. Use the results of part (a) to determine the intervals of increase and decrease of the revenue function and the price at which revenue is maximized.
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Explain how you can find the difference 120-70 using mental math. Then name the difference. Write two equations that prove the Associative Property is not true for subtraction.
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