If the price elasticity of demand for a good is 0.94,then which of the following events is consistent with a 4 percent decrease in the quantity of the good demanded?
A) a 0.235 percent increase in the price of the good
B) a 2.350 percent increase in the price of the good
C) a 3.760 percent increase in the price of the good
D) a 4.255 percent increase in the price of the good
Correct Answer:
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