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If a product's price elasticity of demand is -2, what does this indicate about t

Practice Questions

Q1
If a product's price elasticity of demand is -2, what does this indicate about the demand for the product?
  1. Inelastic
  2. Elastic
  3. Unitary
  4. Perfectly inelastic

Questions & Step-by-Step Solutions

If a product's price elasticity of demand is -2, what does this indicate about the demand for the product?
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