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Author Question: Which of the following illustrates elastic demand? (Read 51 times)

awgagawg

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on: Oct 12, 2022
Which of the following illustrates elastic demand?
◦ A 10% increase in price causes a 5% decrease in quantity demanded.
◦ A price elasticity of 0.8
◦ A 10% increase in price causes a 10% reduction in quantity demanded.
◦ A price elasticity of 1.0
◦ A 10% increase in price causes a 20% decrease in quantity demanded.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by awgagawg on Oct 12, 2022

Burly

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Reply #1 on: Oct 12, 2022
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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awgagawg

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

bblaney

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Reply 3 on: Yesterday
Wow, this really help

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