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Question 7 Homework * Unamwered * Due Ioday, 11.55/5M Markas: NIf the demand for electricity...

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Economics

Question 7 Homework * Unamwered * Due Ioday, 11.55/5M Markas: NIf the demand for electricity is inelastic but not perfectlyinelastic, a

10%

increase in the price of electricty is likely to: lead to nochange in the quantity demanded of electroly. lead to a decrease inthe quantity demanded of electricity of more than

10%

. lead to a decrease in the quantity demanded of electricity ofless than 1045. lead to a decrease in the quantity demanded ofelectricity of eactly 1014 .

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