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Microeconomics 9th Edition by Stephen Slavin
Edition 9ISBN: 9780077426767Microeconomics 9th Edition by Stephen Slavin
Edition 9ISBN: 9780077426767 Exercise 35
If price were increased from $40 to $42 and quantity demanded fell from 50 to 45, calculate elasticity; state whether demand is elastic, unit elastic, or inelastic; and find how much total revenue was when price was $40 and $42.
Explanation
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Verified
P 1 = 40; P 2 = 42;...
Microeconomics 9th Edition by Stephen Slavin
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