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If an Increase in the Price of a Product from $1

Question 58

Multiple Choice

If an increase in the price of a product from $1 to $2 per unit leads to a decrease in the quantity demanded from 100 to 80 units, then the value of price elasticity of demand is


A) -1/3
B) -2 1/3
C) -1/4
D) -3
E) -2/3

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