If the Price Elasticity of Demand for a Good Is

question 191

Multiple Choice

If the price elasticity of demand for a good is 1.2,then a 3 percent decrease in price results in a

• A)0.4 percent increase in the quantity demanded.
• B)2.5 percent increase in the quantity demanded.
• C)3.6 percent increase in the quantity demanded.
• D)6 percent increase in the quantity demanded.

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