If the Price Elasticity of Demand for Some Good Is

question 145

Multiple Choice

If the price elasticity of demand for some good is 2.7,a 10% increase in the price results in

• A)a 2.7% decrease in the quantity demanded.
• B)a 2.7% increase in the quantity demanded.
• C)a 27% increase in the quantity demanded.
• D)a 27% decrease in the quantity demanded.
• E)There is not enough information to answer this question.

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