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Economics 10th Edition by William McEachern
Edition 10ISBN: 978-1133188124Economics 10th Edition by William McEachern
Edition 10ISBN: 978-1133188124 Exercise 7
CATEGORIES OF PRICE ELASTICITY OF DEMAND For each of the following absolute values of price elasticity of demand, indicate whether demand is elastic, inelastic, perfectly elastic, perfectly inelastic, or unit elastic. In addition, determine what would happen to total revenue if a firm raised its price in each elasticity range identified.
a. E D = 2.5
b. E D = 1.0
c. E D = ?
d. E D = 0.8
a. E D = 2.5
b. E D = 1.0
c. E D = ?
d. E D = 0.8
Explanation
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Degrees of Price Elasticity of Demand 
a...
Economics 10th Edition by William McEachern
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