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Author Question: Which of the following is true? i. The demand for a good is elastic if when its price changes, the ... (Read 36 times)

Marty

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on: May 24, 2019
Which of the following is true?
i.  The demand for a good is elastic if when its price changes, the percentage change in the quantity demanded exceeds the percentage change in price.
ii.  Price elasticity of demand equals the percentage change in price divided by the percentage change in the quantity demanded.
iii.  If demand is price inelastic, a rise in price leads to a decrease in total revenue.
◦ i only
◦ ii only
◦ iii only
◦ i and ii
◦ ii and iii
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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Marked as best answer by Marty on May 24, 2019

mtmmmmmk

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Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Marty

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Reply 2 on: May 24, 2019
YES! Correct, THANKS for helping me on my review

meow1234

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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