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Topic 3
Upon completion of the course, students should be able to:
CLO 1: Explain the price elasticity of demand: list the determinant of the price elasticity of demand.
CLO 2:Use price elasticity of demand to predict changes in quantity and total revenue.
CLO 3: Elaborate elasticity and total revenue for a linear demand curve: explain how the price elasticity of demand varies along a linear demand curve.