Solved

If the Percentage Increase in Price Is 15 Per Cent

Question 215

Multiple Choice

If the percentage increase in price is 15 per cent and the value of the price elasticity of demand is - then what is the quantity demanded?

A) Will increase by 45 per cent
B) Will increase by 5 per cent
C) Will decrease by 45 per cent
D) Will decrease by 5 per cent

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