question archive The own-price elasticity of demand for apples is -1
The own-price elasticity of demand for apples is -1
Subject:EconomicsPrice:2.87 Bought7
The own-price elasticity of demand for apples is -1.2. If the price of apples falls by 5%, what will happen to the quantity of apples demanded?
A. It will increase 5%
B. It will fall 4.3%
C. It will increase 4.2%
D. It will increase 6%
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