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If the price elasticity of demand for paint is 2.5, then a reduction in the price of paint will cause buyers to buy more cans

If the price elasticity of demand for paint is 2.5, then a reduction in the price of paint will cause buyers to buy

  • more cans of paint, and their total spending on paint will decrease.
  • more cans of paint, and their total spending on paint will increase.
  • fewer cans of paint, and their total spending on paint will decrease.
  • fewer cans of paint, and their total spending on paint will increase.

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