Define elasticity of price expectation ( Ee). In the context of an environment of business recession, state
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Define elasticity of price expectation ( Ee). In the context of an environment of business recession, state briefly the implication of:
( i) Ee > 1, ( ii) Ee = 1, ( iii) 0 < Ee > 1, ( iv) Ee = 0 and ( v) Ee < 0.
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