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Course: AP??/College Microeconomics?>?Unit 2
Lesson 3: Price elasticity of demand- Introduction to price elasticity of demand
- Determinants of price elasticity of demand
- Determinants of elasticity example
- Price Elasticity of Demand and its Determinants
- Perfect inelasticity and perfect elasticity of demand
- Constant unit elasticity
- Total revenue and elasticity
- More on total revenue and elasticity
- Determinants of price elasticity and the total revenue rule
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Determinants of price elasticity and the total revenue rule
Problem
Which of the following would be an indication that a firm has an elastic demand for its goods?