Multiple Choice
If the price elasticity of demand for a product is 2.5,then a price increase of 1.5 percent decreases the quantity demanded by
A) 1.55 percent.
B) 3.50 percent.
C) 5.00 percent.
D) 3.75 percent.
E) 1.00 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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