If a 1% Increase in the Price of Gummy Bears

question 346

Multiple Choice

If a 1% increase in the price of gummy bears causes gummy bear sales to decline by 0.4%, then the price elasticity of demand is

• A) 2.5.
• B) 0.04.
• C) 0.4.
• D) 4.

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Definitions:

Content Loyalty Metric

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