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1.) If a good has a priceelasticity of demandof -1.4, with a 10% increase in price, what would be the percentage change in the quantity

1.) If a good has a priceelasticity of demandof -1.4, with a 10% increase in price, what would be the percentage change in the quantity demanded?

a. 14% - quantity increases

b. 10% - quantity decreases

c. 14% - quantity decreases

d. 7% - quantity decreases

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