Which of the following best represents the idea of price elasticity?

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Which of the following best represents the idea of price elasticity?

  • If I raise volumes by 10%, by how much does the price adjust?
  • If I raise the price by 1%, by how much does demand drop?
  • If I drop the price by 1%, by how much does demand drop?
  • If I drop volumes by 10%, by how much does the price adjust?

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Introduction to Marketing Coursera Quiz Answer

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