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If the demand for a product increases by 10% and the price increases by 5%, what

Practice Questions

Q1
If the demand for a product increases by 10% and the price increases by 5%, what is the price elasticity of demand?
  1. 0.5
  2. 2
  3. 1.5
  4. 1

Questions & Step-by-Step Solutions

If the demand for a product increases by 10% and the price increases by 5%, what is the price elasticity of demand?
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