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A price elasticity of demand of -4 means that a 10% increase in price will result in a a. 40% increase in the quantity demanded

A price elasticity of demand of -4 means that a 10% increase in price will result in a a. 40% increase in the quantity demanded b. 40% decrease in the quantity demanded c. 4% decrease in the quantity demanded d. 2.5% decrease in the quantity demanded

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