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If a 4 percent increase in the price of a good leads to a 1 percent decrease in the quantity demanded, the price elasticity of
If a 4 percent increase in the price of a good leads to a 1 percent decrease in the quantity demanded, the price elasticity of demand for the good equals ________.
a. 0.25
b. 1.0
c. 0.33
d. 4.0
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Labor Economics
Authors: George J. Borjas
6th edition
73523208, 2900073523209 , 978-0073523200
