Business, 29.10.2019 06:31, florochoa217
For each of the following absolute values of price elasticity of demand, indicate whether demand is elastic, inelastic, perfectly inelastic, or unit elastic. in addition determine what would happen to total revenue if a firm raised it's price in each elasticity range identified.
a. elasticity of demand = 2.5
b." " = 1.0
c. " " = 0.8
Answers: 1
For each of the following absolute values of price elasticity of demand, indicate whether demand is...
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