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Demand Elasticity Assignment | Homework For You

Author:
December 13th, 2019

if a 2 percent rise in price leads to a 4 percent decrease in quantity demanded, then demand is

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Homework For You

a. inelastic and the total revenue decreases

b. elastic and the total revenue increases

c. elastic and the total revenue decreases

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d. elastic, but we cannot tell what happens to total revenue without more information

e. total revenue decreases but we cannot tell if the demand is elastic or inelastic without more information. Get Economics homework help today

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