donaldduckers2514 donaldduckers2514
  • 03-06-2023
  • Business
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If the price of milk increases by 20% and the quantity of milk demanded decreases by 4%, answer:
a. Calculate the price elasticity of demand. Is demand elastic, inelastic, or unitary? Explain your answer.
b. Will this product have an easy or hard to find substitute? Why?

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