Multiple Choice
If the price elasticity of demand for Good A is -0.2 and the price increases from $2.25 to $2.75, the percentage change in the quantity demanded of Good A is:
A) -100%.
B) 100%.
C) 4.0%
D) -4.0%.
E) unknown because not enough information is provided.
Correct Answer:
Verified
Correct Answer:
Verified
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