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

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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.

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Principles Of Macroeconomics

ISBN: 9780324589993

5th Edition

Authors: N. Gregory Mankiw

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Question Posted: Sep 27, 2024 10:01 AM

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

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Principles Of Macroeconomics

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