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Percentage Change and Price Elasticity of Demand
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Percentage Change and Price Elasticity of Demand
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4. Elasticity / Percentage Change and Price Elasticity of Demand / Problem 2
Problem 2
If the price of coffee increases by 10% and the quantity demanded decreases by 5%, what is the price elasticity of demand?
A
0.5
B
2
C
1.5
D
1
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