Suppose the price elasticity of demand for petrol is 02 in
Suppose the price elasticity of demand for petrol is 0.2 in the short run and 0.7 in the long run. If the price of petrol rises by 28%, what effect on quantity demanded will this have in the short run?
In the long run?
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suppose the price elasticity of demand for petrol is 02 in the short run and 07 in the long run if the price of petrol
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