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Answer to Question #93908 in Economics for Amanda
Question #93908
If the price elasticity of medical care is 0,31 it can be concluded that the demand for medical care is........ Since the percentage change in quantity demanded is........ The percentage in price.
Expert's answer
If the price elasticity of medical care is 0.31 it can be concluded that the demand for medical care is inelastic since the percentage change in quantity demanded is lower than the percentage change in price.
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