Question
The price for Oil changed from $80 Dollars a Barrel to $120 Dollars a Barrel. The demand for barrels of oil only increased 2% -
The price for Oil changed from $80 Dollars a Barrel to $120 Dollars a Barrel. The demand for barrels of oil only increased 2% - is the new price inelastic or elastic. Explain your answer.
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Inflation, Unemployment And Capital Malformations
Authors: Bernard Schmitt, Xavier Bradley, Alvaro Cencini
1st Edition
0429767064, 9780429767067
