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The price elasticity of demand for an industry's demand curve is equal to -1.5 for the range of prices over which supply increases. If total
The price elasticity of demand for an industry's demand curve is equal to -1.5 for the range of prices over which supply increases. If total industry output is expected to increase by 30 percent as a result of the supply increase, managers in this industry should expect the market price of the good to ________(increase, decrease) by ________percent.
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