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When the Price Elasticity of Demand Is 2 and the Price

Question 43

Multiple Choice

When the price elasticity of demand is 2 and the price increases by 10 percent,the quantity demanded

A) decreases by 2 percent.
B) decreases by 20 percent.
C) decreases by 5 percent.
D) increases by 2 percent.
E) increases by 20 percent.

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