Multiple Choice
The elasticity of demand for fish is estimated to be 3.If this estimate is accurate,then a 3% rise in price will
A) increase quantity demanded by 1%.
B) increase quantity demanded by 9%.
C) decrease quantity demanded by 1%.
D) decrease quantity demanded by 3%.
E) decrease quantity demanded by 9%.
Correct Answer:
Verified
Correct Answer:
Verified
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