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Comment on the agreement on the statement listed below. Explain with the supporting rationales. No diagrams are required. a. It is always profitable to decrease

Comment on the agreement on the statement listed below. Explain with the supporting rationales. No diagrams are required.

a. It is always profitable to decrease price when the demand of the product is elastic. (5 marks)

b. The number of people receiving full-time education is not affected by the prevailing interest rate.

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