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When the price of a product is increased 20 percent, the quantity demanded decreases 16 percent. The price-elasticity of demand coefficient for this product is

When the price of a product is increased 20 percent, the quantity demanded decreases 16 percent. The price-elasticity of demand coefficient for this product is

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  • 0.8.
  • 8.
  • 1.25.
  • 12.5.

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