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Price Elasticity of Demand on a Graph
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Price Elasticity of Demand on a Graph
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4. Elasticity / Price Elasticity of Demand on a Graph / Problem 1
Problem 1
If the price of a product increases by 5% and the quantity demanded decreases by 5%, what is the price elasticity of demand?
A
Unit elastic
B
Perfectly elastic
C
Inelastic
D
Elastic
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