If the Price Elasticity of Demand Is Equal to 4,a

question 113

Multiple Choice

If the price elasticity of demand is equal to 4,a 1 percent increase in price will cause the quantity demanded to _____ by _____ percent.

• A)increase; 0.25
• B)decrease; 0.25
• C)increase; 4
• D)decrease; 25
• E)decrease; 4

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Definitions:

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