Multiple Choice
Epler Company's management believes that every 3% decrease in the selling price of one of the company's products leads to a 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) -1.29
B) -2.87
C) -3.83
D) -2.53
Correct Answer:
Verified
Correct Answer:
Verified
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