Question
The current price for a good is $25, and 90 units are demanded at that price. The price elasticity of demand for the good
The current price for a good is $25, and 90 units are demanded at that price. The price elasticity of demand for the good is -1. When the price of the good drops by 4 percent to $24, consumer surplus by $ (Enter your response to the nearest penny.)
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Economics
Authors: R. Glenn Hubbard
6th edition
978-0134797731, 134797736, 978-0134106243
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