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Please answer it correctly and explain your answer. I will rate accordingly. What effect does each of the following have on the price elasticity (absolute

Please answer it correctly and explain your answer. I will rate accordingly.

What effect does each of the following have on the price elasticity (absolute value) of your product?

1. Increase in the price of your product

a. increase, b. decrease, c. no effect, d. unknown

2. Increase in price of a competitor's product

a. increase, b. decrease, c. no effect, d. unknown

3. Increase in the price of a complement

a. increase, b. decrease, c. no effect, d. unknown

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