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1 if the percentage change in price is 12 percent and the

1) If the percentage change in price is 12 percent and the percentage change in quantity demanded is 7 percent, what is the elasticity of demand equal to ? 2) the price falls from $10 dollars to $9.50 , and the quantity demanded rises from 100 units to 110 units. What does total revenue equal at the lower price ? 3) what is the percentage rise in total revenue as a result of the price falling from $10 to $9.50 in the previous question?

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