The Elasticity of Demand for a Good Is -0

question 124

Multiple Choice

The elasticity of demand for a good is -0.75. A 4 percent increase in price will cause a:

• A) 3 percent decrease in quantity demanded.
• B) 5.33 percent increase in quantity demanded.
• C) 5.33 percent decrease in quantity demanded.
• D) 0.19 percent decrease in quantity demanded.

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