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If the price elasticity of demand of for gasoline is 2, then a 15% decrease in quantity demanded is caused by % increase in the price of good?

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 3SQP

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If the price elasticity of demand of for gasoline is 2, then a 15% decrease in quantity demanded is caused by

% increase in the price of good?

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