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Epperson Company's Management Believes That Every 3% Decrease in the Selling

Question 56

Multiple Choice

Epperson Company's management believes that every 3% decrease in the selling price of one of the company's products leads to an 8% increase in the product's total unit sales.The product's price elasticity of demand as defined in the text is closest to:


A) -2.82
B) -2.98
C) -2.53
D) -2.03

Correct Answer:

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