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If the Price Elasticity of Demand Is Equal to 4,a

Question 113

Multiple Choice

If the price elasticity of demand is equal to 4,a 1 percent increase in price will cause the quantity demanded to _____ by _____ percent.

A) increase; 0.25
B) decrease; 0.25
C) increase; 4
D) decrease; 25
E) decrease; 4

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