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Suppose Income Remains at $10,000 but the Price of the Related

Question 66

Multiple Choice

suppose income remains at $10,000 but the price of the related good increases to $60 and Conlan decides to raise the price of its product to $50.
-What is the new own price elasticity of demand?


A) -0.24
B) -0.43
C) -0.87
D) -1.00
E) -1.26

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