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Categories of Price Elasticity of Demand For each of the following values for price elasticity of...

Categories of Price Elasticity of Demand

For each of the following values for price elasticity of demand, indicate whether demand is elastic, inelastic, perfectly elastic, perfectly inelastic, or unit elastic. Also, indicate (increase, decrease, no effect) what would happen to total revenue if a firm raised the price in each elasticity range.

Price Elasticity of Demand equals Descriptionn of Elasticity Total Revenue Change
-2.5
-1.0
-0.8
-infinity
0
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