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Author Question: When the price of tea decreases 7%, quantity demanded increases 12%. The price elasticity of demand ... (Read 118 times)

Awilson837

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on: Apr 19, 2019

When the price of tea decreases 7%, quantity demanded increases 12%. The price elasticity of demand for tea is ________ and total revenue from tea sales will ________.


◦ inelastic; increase
◦ inelastic; decrease
◦ elastic; increase
◦ elastic; decrease
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by Awilson837 on Apr 19, 2019

poopface

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Reply #1 on: Apr 19, 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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Awilson837

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Reply 2 on: Apr 19, 2019
Great answer, keep it coming :)

dantucker

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Reply 3 on: Yesterday
Wow, this really help

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