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  • 11-04-2024
  • Business
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If the value of the Ed is .55, What does it indicate about the demand for this product?
1) Consumers are not responding to the price of this product.
2) Consumers are not very responsive to the change in the price of this product.
3) This product has a unit elasticity of demand.
4) This product has a perfectly inelastic demand.

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