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The price of carrots rises by 4% and the quantity of carrots demanded decreases by 8%. The elasticity of demand is _______ and demand is
The price of carrots rises by 4% and the quantity of carrots demanded decreases by 8%. The elasticity of demand is _______ and demand is _______. Group of answer choices 0.5; elastic 2; elastic 0.5; inelastic 2; inelastic
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Economics for Managers
Authors: Paul G. Farnham
3rd edition
132773708, 978-0133561128, 133561127, 978-0132773706
