Suppose a 10 Per Cent Increase in the Price of Textbooks

question 17

Multiple Choice

Suppose a 10 per cent increase in the price of textbooks decreases the quantity demanded by 20 per cent. The elasticity of demand for textbooks is

• A) 10.0.
• B) 0.2.
• C) 2.0.
• D) 5.0.

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