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The Price Elasticity of Demand for Widgets Is 0

Question 333

Multiple Choice

The price elasticity of demand for widgets is 0.75. Assuming no change in the demand curve for widgets, a 9 percent decrease in sales implies a(n)

A) 3.25 percent increase in price.
B) 8 percent increase in price.
C) 12 percent increase in price.
D) 6.75 percent increase in price.

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