carsonngibbons4644 carsonngibbons4644
  • 09-01-2023
  • Business
contestada

If the price elasticity of demand for a good is 1.2, then a 3 percent decrease in price results in a
a. 0.4 percent increase in the quantity demanded.
b. 2.5 percent increase in the quantity demanded.
c. 3.6 percent increase in the quantity demanded.
d. 6 percent increase in the quantity demanded.

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