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Hide If the price elasticity of demand has a value of -1.3 ,this means: Select...

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Economics

Hide If the price elasticity of demand has a value of -1.3 ,this means: Select one: a. A 1 percent increase in the price of thegood causes quantity demanded to increase by 1.3 percent. b. A

$1

increase in price causes quantity demanded to fall by 1.3 units.c. A 1.3 percent increase in the price of the good causes quantitydemanded to decrease by 1 percent. d. A 1 percent increase in theprice of the good causes quantity demanded to decrease by 1.3porcent. Clear my choice

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