Question: Question 6 (2 points) A 22% increase in the price of oil reduces the quantity of oil demanded by 5.5% percent. What is the price

Question 6 (2 points) A 22% increase in the price of

Question 6 (2 points) A 22% increase in the price of oil reduces the quantity of oil demanded by 5.5% percent. What is the price elasticity of demand for oil? What can you say about the elasticity

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