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If there is a 2 percent decline in the price and the quantity of demanded increases by 6 percent, then the elasticity of demand is

If there is a 2 percent decline in the price and the quantity of demanded increases by 6 percent, then the elasticity of demand is Blank______ and it is considered to be Blank______. Multiple choice question. 0.33; inelastic 3; elastic 0.33; elastic 3; inelastic

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