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If the Percentage Increase in Price Is 15 Per Cent

Question 3

Multiple Choice

If the percentage increase in price is 15 per cent and the value of the price elasticity of demand is - then what is the quantity demanded?


A) Will increase by 45 per cent
B) Will increase by 5 per cent
C) Will decrease by 45 per cent
D) Will decrease by 5 per cent

Correct Answer:

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