If the Price Elasticity of Demand Is 0

question 46

Multiple Choice

If the price elasticity of demand is 0.5, then a 10 percent increase in price results in a

• A) 5 percent decrease in quantity demanded.
• B) 50 percent reduction in quantity demanded.
• C) 5 percent increase in quantity demanded.
• D) 0.5 percent decrease in quantity demanded.
• E) 5 percent decrease in total revenues.

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