Question
If a 1 percent decrease in the price of a good leads to a 0.50 percent increase in the quantity demanded, the price elasticity of
If a 1 percent decrease in the price of a good leads to a 0.50 percent increase in the quantity demanded, the price elasticity of demand for the good equals ________.
A. 2.0
B. 1.0
C. 0.50
D. 0.75
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International Marketing And Export Management
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
8th Edition
1292016922, 978-1292016924
