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  • Dec 26, 2008, 09:23 AM
    jasmine1403
    Elasticity
    When 10 percent change in the price of good brings about a 20 percent change in its quantity demanded the price elasticity of demand is... we can say that demand for this good is...
  • Nov 13, 2010, 02:09 PM
    tolga5096
    percentage change in quantity demanded is divided by percentage change in price =20/10=2

    it is elastic because e=2 is greater than 1

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