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As you know, price elasticity may be calculated using the following formula. [(New Quantity - Old Quantity) / Old Quantity] [(New Price old Price) /
As you know, price elasticity may be calculated using the following formula. [(New Quantity - Old Quantity) / Old Quantity] [(New Price old Price) / Old Price] For a price-inelastic product, the resulting number is O greater than 1 O less than 1 O greater than 0 O less than 0 O equal to 1
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