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Unformatted text preview: quantity is greater than the percentage change in price, but from point b to c the percentage change in price is greater than the percentage change in quantity. 4f. Decreasing the price will drive revenue up since consumers will be better off, like lowering the price of Victorias secret merchandise. 4g. Increasing the price will increase revenue because it is inelastic and consumers will always be in need for this type of product no matter what the cost, like milk. 5. 1145 platters 6a.-1.8 6b.-1.57 6c. Inferior 6d .Inferior 7a. -3% 7b. Complement 8a. 8b. 8c....
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- Spring '08