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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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