question archive If the price elasticity of demand = |-0
If the price elasticity of demand = |-0
Subject:EconomicsPrice:2.88 Bought3
If the price elasticity of demand = |-0.5| and price decreases by 10 percent, then
A. demand will increase by 0.5 percent.
B. quantity demanded will increase by 0.5 percent, and the demand is elastic.
C. quantity demanded will increase by 0.5 percent, and the demand is inelastic.
D. quantity demanded will increase by 5 percent, and the demand is elastic.
E. quantity demanded will increase by 5 percent, and the demand is inelastic.
Option 1
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