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If price elasticity is known to be 0.15, what happens to quantity when the price of services at Urban General falls by 10 percent? A.
If price elasticity is known to be 0.15, what happens to quantity when the price of services at Urban General falls by 10 percent?
A. Quantity demanded rises by 5.0 percent
B. Quantity demanded falls by 5.0 percent.
C. Quantity demanded falls by 2.5 percent.
D. Quantity demanded increases by 1.5 percent.
E. Quantity demanded increases by 15.0 percent.
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