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Question
Arrange the following coefficients of price elasticity of demand in ascending order:
(−) 3.1, (−) 0.2, (−) 1.1
Solution
The following coefficients of price elasticity of demand are arranged in ascending order as follows:
(-) 0.2, (-) 1.1, (-) 3.1
Minus sign only shows the inverse relationship between the price and quantity demanded.
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