Question: If a $20 decrease in the price of long-distance calls from ($50-530) leads to a $45 increase in the quantity of calls demanded from ($80-$125).

If a $20 decrease in the price of long-distance

If a $20 decrease in the price of long-distance calls from ($50-530) leads to a $45 increase in the quantity of calls demanded from ($80-$125). Conclude that demand for phone calls is 1. Unitary elastic 2. Elastic 3. Inelastic Note: draw graph also

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