If the price elasticity of demand for a product is 5,and prices increase 10 percent,then demand will _____
A)increase by 5 percent.
B)increase by 10 percent.
C)increase by 50 percent.
D)decrease by 50 percent.
E)decrease by 3 percent.

Name: If the price elasticity of demand for a product is 5,and prices increase 10 percent,then demand will _____ A)increase by 5 percent. B)increase by 10 percent. C)increase by 50 percent. D)decrease by 50 percent. E)decrease by 3 percent.
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Question

Quizplus · Accepted Answer

The Answer is D

If the Price Elasticity of Demand for a Product Is