If a 3% increase in the price of corn flakes causes a 6% decline in the quantity

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If a 3% increase in the price of corn flakes causes a 6% decline in the quantity demanded, what is the elasticity of demand?

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Microeconomics

ISBN: 978-0132857123

8th edition

Authors: Robert Pindyck, Daniel Rubinfeld

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Question Posted: Dec 22, 2015 02:12 AM

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If a 3% increase in the price of corn flakes causes a 6% decline in the quantity

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The elasticity of demand is the perce...View the full answer

Microeconomics

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