Assume the price elasticity of demand has an absolute value of 4 for a particular good this means that quantity demanded would increase by
4% for each 1% increase in price
1 unit for each 4$ increase in price
1% for each 4% increase in price
4 units for each 1$ increase in price
Answers: 3
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Assume the price elasticity of demand has an absolute value of 4 for a particular good this means th...
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