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MCQs of Elasticity of Demand and Supply
Two famous brands of sport shoes, Nike and Adidas, and they face the following situations. Use one graph per case and explain each situation in the market of Nike shoes. a) Suppose
MCQs of Elasticity of Demand and Supply
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We observe a 15% increase in price of Nike shoes, and the price elasticity of demand for Nike shoes is -3. If so, then quantity demanded: a. will decrease by 45%. b.
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