Multiple Choice
Suppose a new manufacturing technology results in an expansion in the supply of golf balls in the United States of 15%.If the elasticity of demand of golf balls sold in the US is -0.4,the new equilibrium price will be
A) 0.375% lower.
B) 16% lower.
C) 37.5% higher.
D) 37.5% lower.
Correct Answer:

Verified
Correct Answer:
Verified
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