If the percentage increase in price is 15 percent and the value of the price elasticity of demand is -3, then quantity demanded
A) will increase by 5 percent. B) will decrease by 5 percent.
C) will increase by 45 percent. D) will decrease by 45 percent.
D
Economics
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Microeconomics includes the study of the
A) aggregate effects on the national economy. B) nationwide unemployment rate. C) reasons why the government changes interest rates. D) recessions and inflation in the global economy. E) choices made by individuals and businesses.
Economics
Each point on the demand curve indicates
a. the demand for the product. b. the quantity demanded at that price. c. the amount that people need. d. the amount people want to buy at different income levels.
Economics