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Calculate the price elasticity of demand

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Reference no: EM131179872

Calculate the price elasticity of demand for the following products and state whether demand is price elastic, inelastic, orunit elastic,

a. Raw sugar prices rose by 3% and raw sugar consumption declinedby 2%.

b. A 10% increase in the price of cigarettes reduce smoking among8th to 10th graders by 10%.

c. The price of luxury cars increases by 4% while the quantitydemanded decreases by 8%.

Reference no: EM131179872

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