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the following questions: 1.If the price of a smartphone is currently 200, and the quantity demanded is 4 million. Next year the price falls to
the following questions: 1.If the price of a smartphone is currently 200, and the quantity demanded is 4 million. Next year the price falls to 180 and the quantity demanded rises to 6 million. Calculate PED and comment 2.A cut in the price from $1.5 to $1.2 sees demand for a product rise by 10%. What would be the price elasticity of demand for this product? Explain your
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Global Business Today
Authors: Charles W. L. Hill Dr, G. Tomas M. Hult
10th edition
1259686698, 978-1259686696
