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Business, 18.03.2021 01:30 guendyg04

Inelastic demand implies that a one percent increase in price results in a larger than one percent decrease in quantity demanded. that a one percent cut in price results in a larger than one percent increase in quantity demanded. that a one percent increase in price results in a smaller than one percent decrease in quantity demanded. that a one percent decrease or increase in price induces no change in total revenue.

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