If the price elasticity of demand is 0.6,then a 10 percent increase in the price of the good will lead to a ________ in the quantity demanded.
A)6 percent increase
B)6 percent decrease
C)0.6 percent increase
D)0.6 percent decrease

Name: If the price elasticity of demand is 0.6,then a 10 percent increase in the price of the good will lead to a ________ in the quantity demanded. A)6 percent increase B)6 percent decrease C)0.6 percent increase D)0.6 percent decrease
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Question

Quizplus · Accepted Answer

The Answer is B

If the Price Elasticity of Demand Is 0