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Sir, after doing example 3. I got 2 ped for same product . if current price is 16 dollar then ped=-32 and if current price is 15 dollar then ped=-10. Is it possible that the same product have 2 elasticity. After doing this example i assumed elasticity decreases over demand. Please help me with this example.
The elasticity is different at different levels – it does not stay constant and may increase or decrease.
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