question archive If the price elasticity of demand coefficient is 4, then: A
If the price elasticity of demand coefficient is 4, then: A
Subject:EconomicsPrice:2.88 Bought3
If the price elasticity of demand coefficient is 4, then:
A. a price increase of 1% will reduce quantity demanded by 1/4%.
B. a price increase of 1% will reduce quantity demanded by 4%.
C. a price decrease of 1% will reduce quantity demanded by 1/4%.
D. a price decrease of 1% will reduce quantity demanded by 4%.
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