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Use the Following for Questions 124-127

Question 71

Multiple Choice

Use the following for questions 124-127.
Exhibit: Estimating Price Elasticity
Use the following for questions 124-127. Exhibit: Estimating Price Elasticity -(Exhibit: Estimating Price Elasticity) Between the two prices, P₁ and P₂, the absolute value of the price elasticity of demand is ________ for D₂. A) 0 B) greater than 1 C) equal to 1 D) greater than 0 but less than 1
-(Exhibit: Estimating Price Elasticity) Between the two prices, P₁ and P₂, the absolute value of the price elasticity of demand is ________ for D₂.


A) 0
B) greater than 1
C) equal to 1
D) greater than 0 but less than 1

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