Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 2SQ
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A snowmobile dealer lowers it's price by 16 percent and the quantity demanded increases by 2 percent. Thus, the demand for snowmobiles from this dealer can be explained as :
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