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If a $1 Increase in Price Changes Quantity Demanded by 4

Question 118

Multiple Choice

If a $1 increase in price changes quantity demanded by 4 units,the price elasticity of demand

A) must equal .25 percent.
B) must equal 4 percent.
C) must equal 1/4.
D) cannot be calculated with this information.
E) must equal 4.

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