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QUESTION
if the price elasticity of demand is 2, a 10 percent increase in the price will cause: the quantity demanded to decrease by 5 percent b. the QD to...
if the price elasticity of demand is 2, a 10 percent increase in the price will cause:
a. the quantity demanded to decrease by 5 percent
b. the QD to decrease by 2 percent
c. the qd to decrease by .2 percent
d. the qd to decrease by 20 percent
