If the Price Elasticity of Demand Is 2,then a 1

question 37

Multiple Choice

If the price elasticity of demand is 2,then a 1 percent fall in price

• A)doubles the quantity demanded.
• B)decreases the quantity demanded by half.
• C)increases the quantity demanded by 2 percent.
• D)decreases the quantity demanded by 2 percent.
• E)increases the quantity demanded by 0.5 percent.

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