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

Question 107

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) decrease; 25
B) increase; 4
C) decrease; 1/4
D) decrease; 4
E) increase; 1/4

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