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If the Price Elasticity of Demand for a Product Is

Question 90

Multiple Choice

If the price elasticity of demand for a product is 5,and prices increase 10 percent,then demand will _____

A) increase by 5 percent.
B) increase by 10 percent.
C) increase by 50 percent.
D) decrease by 50 percent.
E) decrease by 3 percent.

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