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Question
When despite of no change in the price of the good, its quantity demanded increases from 10 units to 15 units, then coefficient of price elasticity will be ______.
Options
Less than one
Greater than one
Zero
Infinity (undefined)
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Solution
When despite of no change in the price of the good, its quantity demanded increases from 10 units to 15 units, then coefficient of price elasticity will be infinity (undefined).
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