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If price elasticity of demand is 0.5, it follows that a _______ percent decrease in price would ...

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If price elasticity of demand is 0.5, it follows that a _______ percent decrease in price would ...

If price elasticity of demand is 0.5, it follows that a _______ percent decrease in price would cause a _______ percent increase in quantity demanded.

▸

50; 1

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0.5; 1

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0.5; 0.5

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100; 500

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2; 1

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Economics

Edition: 12^th

Author: Arnold

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