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Microeconomics 9th Edition by Stephen Slavin
Edition 9ISBN: 9780077426767Microeconomics 9th Edition by Stephen Slavin
Edition 9ISBN: 9780077426767 Exercise 50
If price were lowered from $50 to $43 and quantity demanded rose from 15 to 16, calculate elasticity; state whether demand is elastic, unit elastic, or inelastic; and find how much total revenue was when price was $50 and $43.
Explanation
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Verified
P 1 = 50 P 2 = 43Q 1...
Microeconomics 9th Edition by Stephen Slavin
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