Multiple Choice
It is estimated that the price elasticity coefficient for farm products is 0.2. Therefore, in order for consumers to increase their purchases of farm products by 10 percent, the prices of these products would have to fall
A) 20 percent.
B) 40 percent.
C) 50 percent.
D) 80 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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