1.

Supposethe price elasticity of demand for a good is −0.2. If there isa 5% increase in the price of the good, then by what percentage willthe 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, then by what percentage will
the demand for the good go down?



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