If the Percentage Change in Price Is 10 Per Cent

question 115

Multiple Choice

If the percentage change in price is 10 per cent and demand is elastic, then the percentage change in the quantity demanded

• A) is larger than 10 per cent.
• B) equals 10 per cent.
• C) equals 0 per cent.
• D) is greater than 0 per cent but less than 10 per cent.
• E) More information is needed to determine the magnitude of the change in the quantity demanded.

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