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The table below show price elasticity of demand for a number of products in Australia. Product Elasticity Petrol Water Short run: -0.13 Long run:
The table below show price elasticity of demand for a number of products in Australia. Product Elasticity Petrol Water Short run: -0.13 Long run: -0.20 -0.17 Cigarettes -0.4 (Sydney) to -0.26 (Brisbane) Various foods Milk: -0.732 Bread: -0.781 Baby food: -0.136 Source: Lorraine and Prentice (2019) 'How much do households respond to electricity prices? Evidence from Australia and abroad', Infrastructure Victoria Technical Paper No. 1/19
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Managerial Economics A Problem Solving Approach
Authors: Luke M. Froeb, Brian T. McCann, Mikhael Shor, Michael R. War
3rd edition
2901133951482, 1133951481, 978-1133951483
