1
answer
0
watching
115
views
18 Aug 2020
Absolute price elasticity of demand equal to 0.4 indicates that a
A. 1 percent increase in price leads to a 4 percent decrease in quantity demanded.
B. 10 percent decrease in price leads to a 4 percent increase in quantity demanded.
C. 0.4 percent decrease in price leads to a 1 percent increase in quantity demanded.
D. 4 percent increase in price leads to a 10 percent decrease in quantity demanded.
Absolute price elasticity of demand equal to 0.4 indicates that a
A. 1 percent increase in price leads to a 4 percent decrease in quantity demanded.
B. 10 percent decrease in price leads to a 4 percent increase in quantity demanded.
C. 0.4 percent decrease in price leads to a 1 percent increase in quantity demanded.
D. 4 percent increase in price leads to a 10 percent decrease in quantity demanded.
Mahe AlamLv10
20 Oct 2020
