Multiple Choice
If price elasticity of demand is 0.5, it follows that a _______ percent decrease in price would cause a _______ percent increase in quantity demanded.
A) 50; 1
B) 0.5; 1
C) 0.5; 0.5
D) 100; 500
E) 2; 1
Correct Answer:
Verified
Correct Answer:
Verified
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