Solved

If the Price of the IPod Falls by 3 Percent

Question 68

Multiple Choice

If the price of the iPod falls by 3 percent and the price elasticity of demand for iPods is 2.0, then quantity demanded will fall by what percentage?

A) 5 percent.
B) 6 percent.
C) 0.6 percent.
D) 60 percent.

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