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Show me the steps to solve 1 . ( 3 points ) Moving along a demand curve, quantity demanded increases 2 . 5 percent when
Show me the steps to solve points Moving along a demand curve, quantity demanded increases percent when price decreases percent.
a The price elasticity of demand is calculated to be
b Given the price elasticity calculated in part a demand is elastic inelastic, unitary elastic along this portion of the demand curve.
c For this interval of demand, the percentage change in quantity in absolute value is greater than, less than, equal to the percentage change in price in absolute value.
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