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If an increase in the price of a product from $1 to $2 per unit leads to a decrease in the quantity demanded from 100 to 80 units, then the value of price elasticity of demand is

a. suggestive of an inferior good
b. inelastic
c. equal to -20
d. unit elastic e.elastic

User Pavels
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1 Answer

6 votes
A is the correct answer

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User Daniel Coffman
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