Suppose that a seller decreases price for his/her good by 5 percent. Discuss how total revenue changes when: i. ∈d=0.5 ii. ∈d=1 iii. ∈d=1.5

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Suppose that a seller decreases price for his/her good by 5 percent. Discuss how total revenue
changes when:
i. ∈d=0.5
ii. ∈d=1

iii. ∈d=1.5

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