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24-05-2023
Business

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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:
a. increase by more than 50 percent.
b. decrease by more than 50 percent.
c. increase by less than 50 percent.
d. decrease by less than 50 percent.

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