Solved

The Price Elasticity of Demand for Widgets Is 0

Question 37

Multiple Choice

The price elasticity of demand for widgets is 0.4. Assuming no change in the demand curve for widgets, a 6 percent decrease in sales implies a(n)

A) 13.5 percent increase in price.
B) 18 percent increase in price.
C) 15 percent increase in price.
D) 2.4 percent increase in price.

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