Multiple Choice
If the price elasticity of demand was 4.0 (in absolute terms) , a 10% off sale would lead to:
A) a 40% increase in purchases by customers.
B) a 40% decrease in purchases by customers.
C) a 2.5% increase in purchases by customers.
D) a 2.5% decrease in purchases by customers.
E) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
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