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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
Multiple Choice
- 0.8.
- 8.
- 1.25.
- 12.5.
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