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What would be the effect on quantity? demanded

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Ghose and Han? (2014) found that the elasticity of demand for Google Play apps is -3.7. This elasticity applies to a small college town where approximately? 1,000 apps per month are sold.

Question 1: If price rises by 1?%, what would be the effect on quantity? demanded? The quantity demanded will decrease by negative 3.7 percent. ?(Enter your response rounded to one decimal? place.) Would revenue rise or? fall?

Reference no: EM132574991

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