Multiple Choice
If the elasticity of demand for Good A is -3, a 33% decrease in quantity demanded of Good A results from a(n) :
A) 99% decrease in the price of Good A.
B) 99% increase in the price of Good A.
C) 11% decrease in the price of Good A.
D) 11% increase in the price of Good A.
E) 33% decrease in the price of Good A.
Correct Answer:
Verified
Correct Answer:
Verified
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