The price elasticity of demand for widgets is 0.75. Assuming no change in the demand curve for widgets, a 9 percent decrease in sales implies a(n)
A)3.25 percent increase in price.
B)8 percent increase in price.
C)12 percent increase in price.
D)6.75 percent increase in price.

Question

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The Answer of The price elasticity of demand for widgets is 0.75. Assuming no change in the demand curve for widgets, a 9 percent decrease in sales implies a(n)
A)3.25 percent increase in price.
B)8 percent increase in price.
C)12 percent increase in price.
D)6.75 percent increase in price.

The Price Elasticity of Demand for Widgets Is 0