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Price Elasticity of Demand
The price of Internet services rises from $24 to $26 a month, and the quantity demanded decreases from 204 million to 196 million subscribers. Is the demand for Internet services elastic or inelastic or unit elastic? knowing that prices increased, what do you expect to happen to total revenue? What is the change in the total revenue of Internet service providers
This document contains various important questions and their appropriate answers in the subject field of Economics.
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