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  • 24-05-2023
  • Business
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The price of milk at the local grocery store is cut by 15%. In response to the price cut, the quantity of milk demanded rises by 5%. The absolute value of the price elasticity of demand for milk is ____ and the price elasticity of demand is ____
a 0.33; elastic b 3; inelastic c 3: elastic d 0.33; inelastic

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