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Answer to Question #184649 in Macroeconomics for hana

Question #184649

If the price of demand is 1.5 and price decreases by10%,then quantity demanded?


1
Expert's answer
2021-04-26T19:32:58-0400

If the price elasticity of demand is 1.5 and price decreases by 10%, then quantity demanded will increase by 10×1.5 = 15%.


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