Question: 1. Why is it important to keep in mind that relating a proportionate change in the quantity of an item to a proportionate change in

1. Why is it important to keep in mind that relating a proportionate change in the quantity of an item to a proportionate change in that item's price yields the price elasticity of demand only when all other things are equal?
2. Why do you suppose that USPS officials have concluded that significant increases in the price of a first class stamp likely will help to prevent its revenues from falling as rapidly within the next two or three years?

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