A 4 percent reduction in the price of a product causes consumer expenditure to remain the same.The price elasticity of demand is:
A) zero.
B) greater than zero.
C) greater than zero but less than 1.
D) equal to 1.

Question

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The Answer of A 4 percent reduction in the price of a product causes consumer expenditure to remain the same.The price elasticity of demand is:
A) zero.
B) greater than zero.
C) greater than zero but less than 1.
D) equal to 1.

A 4 Percent Reduction in the Price of a Product