Suppose that the elasticity of demand for a product is 0.5 and quantity demanded increases by 20%. What must the percentage decrease in price have been?
A) 0.5%
B) 5%
C) 10%
D) 40%

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The Answer of Suppose that the elasticity of demand for a product is 0.5 and quantity demanded increases by 20%. What must the percentage decrease in price have been?
A) 0.5%
B) 5%
C) 10%
D) 40%

Suppose That the Elasticity of Demand for a Product Is