Solved

If a 2 Percent Increase in the Price of a Good

Question 124

Multiple Choice

If a 2 percent increase in the price of a good leads to a 10 percent decrease in the quantity demanded, the price elasticity of demand for the good equals__________ .


A) 5.0
B) 2.0
C) 0.25
D) 0.20

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions