Suppose there is a technological change that allows, Business Economics

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Suppose there is a technological change that allows

Suppose there is a technological change that allows manufacturers to make cell phones much more cheaply; in fact the price falls by 25%. If the short run price elasticity of demand is -0.8, how much does price change? Are cell phone producers better off or worse off?

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Business Economics: Suppose there is a technological change that allows

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Business Economics: Suppose there is a technological change that allows

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