Multiple Choice
If the price elasticity of demand for a good is 4,then a 12 percent decrease in price results in a
A) 0.33 percent increase in the quantity demanded.
B) 3 percent increase in the quantity demanded.
C) 30 percent increase in the quantity demanded.
D) 48 percent increase in the quantity demanded.
Correct Answer:
Verified
Correct Answer:
Verified
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