If the Elasticity of Demand Is 3,and the Price Rises

question 107

Multiple Choice

If the elasticity of demand is 3,and the price rises by 15 percent,then

• A)The quantity demanded will increase by 5 percent.
• B)The quantity demanded will fall by 45 percent.
• C)The quantity demanded will rise by 4.5 percent.
• D)The percentage change in quantity demanded will fall as income rises.

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