question archive If the price elasticity of demand for a good is 0

If the price elasticity of demand for a good is 0

Subject:EconomicsPrice:2.88 Bought3

If the price elasticity of demand for a good is 0.8, then which of the following events is consistent with a 4 percent decrease in the quantity of the good demanded?

a. A 0.2 percent increase in the price of the good,

b. A 3.2 percent increase in the price of the good,

c. A 4.8 percent increase in the price of the good,

d. A 5 percent increase in the price of the good.

Option 1

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Option 2

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