Multiple Choice
If the price elasticity of demand for a good is 2, then a 10 per cent increase in the price of that good ________ the quantity demanded by ________ per cent.
A) increases; 20
B) decreases; 20
C) increases; 8
D) decreases; 10
E) decreases; 2
Correct Answer:
Verified
Correct Answer:
Verified
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