If the price elasticity of demand for a product is -5 and, Ask an Expert

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if the price elasticity of demand for a product is -5, and the income elasticity of demand for the product is 2.5. If a .5% decrease in product price as accompanied by a 1% decrease in consumer income, the firm's total sales will increase, be the same, decrease, or decrease and then increase?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9473704

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