Multiple Choice
If the price elasticity of demand for pineapple is 0.75,a 4% increase in the price of pineapple will lead to a:
A) 3% decrease in the quantity demanded of pineapple.
B) 3% increase in the quantity demanded of pineapple.
C) 4% decrease in the quantity demanded of pineapple.
D) 0.1875% increase in the quantity demanded of pineapple.
Correct Answer:
Verified
Correct Answer:
Verified
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