If the Percentage Increase in Price Is 15 Percent and the Value

question 184

Multiple Choice

If the percentage increase in price is 15 percent and the value of the price elasticity of demand is -3, then quantity demanded

• A)will increase by 45 percent.
• B)will increase by 5 percent.
• C)will decrease by 45 percent.
• D)will decrease by 5 percent.

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