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Contact IndyStar state government and politics reporter Brittany Carloni at [email protected]
In laymans terms, an elasticity of -0.3 means a price increase of 10 percent will lead to a drop in consumption of 3 percent, while a -0.8 elasticity means a price increase of 10 percent leads to an 8 percent drop in purchases
Coley digs happily into the black-eyed peas, and meanwhile I pose a question to which I presume I know the answer, one that will explicate my notion of a certain post-reality American dream state
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