(i) Consider Figure 2, where DD’ represents the rectangular hyperbol – InterviewSolution

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(i) Consider Figure 2, where DD’ represents the rectangular hyperbola demand curve for a good. Find the price elasticity of demand for this good at point A and point B. (ii) Given the price elasticity of demand for a good as 0.6. Suppose price of this good decreases by 10%, what would we expect to happen to the quantity demanded?

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