Suppose That the Quantity Demanded of Good X Rises by 8

question 15

Multiple Choice

Suppose that the quantity demanded of good X rises by 8 percent when the price of good X falls by 2 percent. This information indicates that the price elasticity of demand equals

• A)4.
• B)2.50.
• C)0.25.
• D)10.
• E)There is not enough information provided to answer this question.

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