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If the price elasticity of demand for a good is 0.8, then a

Lauren1

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If the price elasticity of demand for a good is 0.8, then a

If the price elasticity of demand for a good is 0.8, then a
A) 1 percent rise in the price leads to a 0.8 percent decrease in the quantity demanded.
B) one dollar rise in the price leads to a 0.8 percent decrease in the quantity demanded.
C) 1 percent rise in the price leads to an 80 percent decrease in the quantity demanded.
D) 1 percent rise in the price leads to an 8 percent decrease in the quantity demanded.

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Lauren1 Author

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9 years ago

Thank you, this really, really helps Heavy Heart

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MrDereche

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9 years ago

You're welcome!

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