Multiple Choice
If the price elasticity of demand for a good is 2,then a 10 percent decrease in the quantity demanded must be the result of
A) a 0.2 percent increase in the price.
B) a 2.5 percent increase in the price.
C) a 5 percent increase in the price.
D) a 20 percent increase in the price.
Correct Answer:
Verified
Correct Answer:
Verified
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