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Multiple Choice - Pick one answer A - D:

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Multiple Choice - Pick one answer A - D;Show how to solve this also;If the own-price elasticity of demand for gasoline is -.30 and there is a 10% decrease (-.10) in the price of gasoline, this will cause the quantity of gasoline demanded to;a)Increase by.30 (30%).;b)Increase by.03 (3%).;c)Decrease by.03 (-3%).;d)Decrease by.30 (-30%).

 

Paper#24396 | Written in 18-Jul-2015

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