Epperson Company's management believes that every 3% decrease in the selling price of one of...
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Accounting
Epperson Company's management believes that every 3% decrease in the selling price of one of the company's products leads to an 8% increase in the product's total unit sales. The product's price elasticity of demand as defined in the text is closest to:
A.
-2.82
B.
-2.98
C.
-2.53
D.
-2.03
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