Change in price causes a change in quantity demanded

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Reference no: EM131009805

Fill in the blanks:

a. When demand is elastic, the____________effect dominates the_________effect.

b. When demand is inelastic, the___________effect dominates the_____________effect.

c. When demand is unitary elastic,________effect dominates.

d. When a change in price causes a change in quantity demanded, total revenue always moves in the________direction as the variable (P or Q) having the__________ effect.

Reference no: EM131009805

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