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If the elasticity of demand for a product is 2, and the price decreases by 10%,

Practice Questions

Q1
If the elasticity of demand for a product is 2, and the price decreases by 10%, what will be the percentage change in quantity demanded?
  1. 10%
  2. 20%
  3. 30%
  4. 40%

Questions & Step-by-Step Solutions

If the elasticity of demand for a product is 2, and the price decreases by 10%, what will be the percentage change in quantity demanded?
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