• Gr11 Econ PED
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  • Calculate the % change in price of product J, where in 2020 price was 101 EGP while in 2021 price reached 65 EGP.
    Decrease by 53.85%
  • A good is said to have elastic demand if_________
    the good is not a necessity
  • ------------- is the degree to which changes in a good’s price affect the quantity demanded.
    Elasticity of demand
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