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If the Price Elasticity of Demand for a Good Is

Question 268

Multiple Choice

If the price elasticity of demand for a good is 0.8,then which of the following events is consistent with a 4 percent decrease in the quantity of the good demanded?


A) a 0.2 percent increase in the price of the good
B) a 3.2 percent increase in the price of the good
C) a 4.8 percent increase in the price of the good
D) a 5 percent increase in the price of the good

Correct Answer:

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