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detail explanations required The following graph shows the demand for a good. =5 280mm = g 1 & 1 s 1 5 I x o

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The following graph shows the demand for a good. =5 280mm =" g 1 & 1 s 1 5 I \\x o 1 1 I I I i\\' z 40LLL- + Demand QUANTITY (Units) For each region on the graph given in the following table, use the midpoint method to identify whether the demand for this good is efastic, (approximately) unit elastic, or inelastic. Region Elastic Inelastic Unit Elastic Between and Z Between X and Y Between W and X True or False: The value of the price elasticity of demand is equal to the slope of the demand curve. ) True False

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