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If there is a 8 percent decline in the price and the quantity of demanded increases by 2 percent, then the elasticity of demand is

If there is a 8 percent decline in the price and the quantity of demanded increases by 2 percent, then the elasticity of demand is Blank______ and it is considered to be Blank______. Multiple choice question. 0.25; inelastic 4; elastic 0.25; elastic 4; inelastic

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