Solved

A 10 Per Cent Increase in Price Leads to a 20

Question 20

Multiple Choice

A 10 per cent increase in price leads to a 20 per cent decrease in the quantity demanded. The price elasticity of demand is equal to

A) 10.0.
B) 20.0.
C) 2.0.
D) 1.0.
E) 0.5.

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