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Home Q & A Board Other Fields Homework Help Business Economics
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apadong apadong
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6 years ago
When the price of radios decreases 5%, quantity demanded increases 5%. The price elasticity of demand for radios is ________ and total revenue from radio sales will ________.
A) elastic; increase
B) inelastic; decrease
C) unit elastic; not change
D) elastic; decrease
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goldlilysgoldlilys
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6 years ago
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apadong Author
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#2
6 years ago
Update: Correct!
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