You will need the graph from class to answer some of the following questions. If the question asks for a number (dollar or quantity, just input the number without any dollar signs--> ex: $30 would be inputed 30)
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Price elasticity of demand measures the responsiveness of the change in the quantity demanded to a change in price.
Price elasticity of demand measures the change in price versus a change in quantity demanded.
Price elasticity of demand measures the responsiveness of the change in slope of the demand curve to a change in price.
Price elasticity of demand measures the change in slope of the demand curve versus a change in quantity demanded.
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2/1
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10%; increase
5%; stay constant
10%; fall
2.5%; fall
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1/3
3
1/6
6
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