Multiple Choice
If the price elasticity of demand for pineapples is 0.75, then a 4 percent increase in the price of pineapples will lead to a:
A) 3 percent decrease in the quantity of pineapples demanded.
B) 3 percent increase in the quantity of pineapples demanded.
C) 0.75 percent decrease in the quantity of pineapples demanded.
D) 0.75 percent increase in the quantity of pineapples demanded.
Correct Answer:
Verified
Correct Answer:
Verified
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