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    Understanding Modern Economics
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    Exam 4: Consumer Decision Making and Consumer Reaction to Price Changes  
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    If the Price Elasticity of Demand Is -1
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If the Price Elasticity of Demand Is -1

Question 48

Question 48

Short Answer

If the price elasticity of demand is -1.00, how much of a price decrease is needed in order for quantity demanded to rise by 15 percent?

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A 15 perce...

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