Multiple Choice
A price elasticity of -2 means that a price reduction of one percent will result in ________.
A) a decrease in volume by 2%
B) a decrease in volume by 20%
C) an increase in volume by 2%
D) an increase in market share by 20%
E) a decrease in market share by 2%
Correct Answer:
Verified
Correct Answer:
Verified
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