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  3. 1. explain the term price elasticity of demand. wh

1. Explain the term Price Elasticity of Demand. When a firm raises the price of...

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Accounting

1. Explain the term Price Elasticity of Demand. When a firm raises the price of a commodity from $10 to $20, the quantity demanded falls from 10 units to 2. Calculate the price elasticity of demand using the average price method.

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