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A government wants to reduce electricity consumption by 10% The price elasticity of demand for electricity is -5. The government must the price of electricity by Select one a raise

A government wants to reduce electricity consumption by 10%. The price elasticity of demand for electricity is -5. The government must the price of electricity by Select one: a. raise; 2.0% b. raise; 0.5% c. lower; 0.5% d. raise; 1.25%

Apr 02 2021 View more View Less

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