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    demand elasticity

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    Remembering that demand elasticity is defined as the percentage change in quantity divided by the percentage change in price, if price decreases and, in percentage terms, quantity rises more than price has dropped, total revenue will

    remain the same
    either increase or decrease.

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    If price decreases and quantity rises more than price has dropped, the good is highly ...

    Solution Summary

    The solution describes the demand elasticity and percentage change.