If the Price of Sandals Increases by 10 Percent and the Quantity

question 88

Multiple Choice

If the price of sandals increases by 10 percent and the quantity demanded falls by 20 percent,then the price elasticity of demand in absolute value is

• A).2.
• B)2.
• C)20 percent.
• D)2 percent.

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Definitions:

Outsourcing

The business practice of hiring a party outside a company to perform services or create goods that traditionally were performed in-house by the company's own employees.

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United States

A country located primarily in North America, comprised of 50 states, known for its significant influence on global culture, politics, and economy.