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When the price of a product is increased by 20%, the quantity demanded decrease 24%. The price-elasticity-of-demand coefficient for this product is A) 1.2 B)

When the price of a product is increased by 20%, the quantity demanded decrease 24%. The price-elasticity-of-demand coefficient for this product is

A) 1.2

B) 12

C) 0.83

D) 8.3

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