4. A price change causes the quantity demanded of a good to decrease by 30 percent, while...

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4. A price change causes the quantity demanded of a good to decrease by 30 percent, while the total revenue of that good increases by 15 percent. Is the demand curve elastic or inelastic?

Explain.

P=-5

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Essentials Of Economics

ISBN: 9780324590029

5th Edition

Authors: N. Gregory Mankiw

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Question Posted: Nov 04, 2024 10:00 AM

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4. A price change causes the quantity demanded of a good to decrease by 30 percent, while...

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Essentials Of Economics

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