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If the Price Elasticity of Demand for Clean Sheets Laundry

Question 44

Multiple Choice

If the price elasticity of demand for Clean Sheets laundry detergent is 1.50, a 5 percent decrease in the price will lead to which of the following?

A) a 7.5 increase in quantity
B) a 1.50 increase in quantity
C) a 7.5 decrease in quantity
D) a 1.50 decrease in quantity

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