Question on demand type, Given a 15% raise in a good's

Question on demand type

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Reference no: EM1366964

Given a 15% increase in a good's price and a 25% decrease in quantity demanded for the good by a consumer, which of the following types of elasticity best describes the demand curve for the consumer?

- Constant-elasticity

- Unit elastic

- Elastic

- Inelastic

Reference no: EM1366964

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