=+c. If the percentage change in price is less than the resultant percentage change in quantity de-
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=+c. If the percentage change in price is less than the resultant percentage change in quantity de- manded, demand is elastic.
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Related Book For 
Microeconomics Private And Public Choice
ISBN: 9780324320367
11th Edition
Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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