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Vera_Pavlovna [14]
2 years ago
7

Suppose that 50 units of a good are demanded at a price of $1 per unit. a reduction in price to $ 0.20 results in an increase in

quantity demanded to 70 units. show that these data yield a price elasticity of 0.25. by what percentage would a 10 percent rise in the price reduce the quantity demanded, assuming price elasticity remains constant along the demand curve?
Business
1 answer:
Irina-Kira [14]2 years ago
7 0
Increase in quantity demanded discount price value
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