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Economics

A price elasticity of demand equal to â€“ 0.4 indicates that a

A) 4 percent increase in price leads to a 10 percent decrease in quantity demanded.

B) 1 percent increase in price leads to a 4 percent decrease in quantity demanded.

C) 0.4 percent decrease in price leads to a 1 percent increase in quantity demanded.

D) 10 percent decrease in price leads to a 4 percent increase in quantity demanded.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91229802

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