MCQOPTIONS
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| 1. |
If the price elasticity of demand of Chicken is +.95. then a 20% increase in price of chicken will lead to in quantity demanded of chicken at that price |
| A. | 19 increase |
| B. | 19% decrease |
| C. | 20.95% increase |
| D. | 20.6% decrease |
| Answer» B. 19% decrease | |