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Briefly explain the effect of price elasticity of demand. Cite an example.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 2QR: List and explain the four determinants of the price elasticity of demand discussed in the chapter.

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