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When You Buy a New Car, the Dealer Presents You

Question 73

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When you buy a new car, the dealer presents you with a set of keys and you drive away into the sunset. What would you do if, after agreeing to a price for the car, the dealer told you that a set of keys would cost an additional $5? What does this tell you about the price elasticity of demand for car keys? Explain.

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To avoid going to another dealer and inc...

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