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The Price Elasticity of Demand for Stork Ice Cream Is

Question 110

Multiple Choice

The price elasticity of demand for Stork ice cream is -4.Suppose you are told that following a price increase, quantity demanded fell by 10 per cent.What was the percentage change in price that brought about this change in quantity demanded?


A) 40 per cent
B) 25 per cent
C) 2) 5 per cent
D) 0) 4 per cent

Correct Answer:

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