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Answer to Question #147005 in Microeconomics for Dasha

Question #147005
when a good is said to have elastic demand, what is true of the good when the price of the good increases
1
Expert's answer
2020-11-27T07:49:17-0500

When a good is said to have elastic demand, an increase in price no matter how little will purpose the quantity demanded for the property to increase resulting to the total income falling to zero.


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