Assume the demand for a good is price inelastic ie ed lt 1, Ask an Expert

Economics

Assume the demand for a good is price inelastic, i.e., ed < 1 (in absolute value). This means that if price decreases by 50 percent, quantity demanded will:

increase by more than 50 percent.

decrease by more than 50 percent.

increase by less than 50 percent.

decrease by less than 50 percent.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91697095

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