If Price Elasticity Is 3.25 Then

question 17

Multiple Choice

If price elasticity is 3.25 then

• A)for every one percent change in price, there will be a 3.25 percent change in quantity demanded.
• B)for every one percent change in price, there will be a 3.25 percent change in demand.
• C)for every one percent change in price, there will be a 32.5 percent change in quantity demanded.
• D)for every one percent change in price, there will be a .0325 percent change in quantity demanded.

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