1.

Suppose the price elasticity of demand for a good is - 0.2. If there is a 5% increase in the price of the good, by what percentage will the demand for the good go down?

Answer»

Suppose the price elasticity of demand for a good is - 0.2. If there is a 5% increase in the price of the good, by what percentage will the demand for the good go down?



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