Multiple Choice
The own price elasticity of demand for apples is −1.5.If the price of apples falls by 6 percent,what will happen to the quantity of apples demanded?
A) It will increase 4 percent.
B) It will increase 9 percent.
C) It will fall 4 percent.
D) It will fall 6 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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