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If the Price Elasticity of Demand for Clean Sheets Laundry

Question 53

Multiple Choice

If the price elasticity of demand for Clean Sheets laundry detergent is 0.50, a 2 percent increase in the price will lead to which of the following?

A) a 0.50 percent increase in quantity
B) a 0.50 percent decrease in quantity
C) a 1 percent increase in quantity
D) a 1 percent decrease in quantity

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