According to the Text,the Price Elasticity of Demand for Bath

question 77

Multiple Choice

According to the text,the price elasticity of demand for bath tissue has been estimated to be -2.42.This implies that a 10 percent decrease in the price of bath tissue would cause the quantity demanded of bath tissue to:

• A)increase by 2.4 percent.
• B)decrease by 2.4 percent.
• C)increase by 24.2 percent.
• D)decrease by 24.2 percent.

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