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If a product has an inelastic demand, then we can expect total revenue to decrease) if price rises. (increase,

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 10RQ: What is the formula for calculating elasticity?

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Question

If a product has an inelastic demand, then we can expect total revenue to
decrease) if price rises.
(increase,

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