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14. From last year to this year market demand for product x has remained unchanged while the price has increased and consumers' total expenditure
14. From last year to this year market demand for product x has remained unchanged while the price has increased and consumers' total expenditure on x has fallen. If the market has a constant own-price elasticity e, which of the following could be its magnitude? (a) e = 2.4 (b) || = 0.9 (c) || = 0.1 (d) None of these is possible
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Physics
Authors: Alan Giambattista, Betty Richardson, Robert Richardson
2nd edition
77339681, 978-0077339685
