If the price elasticity of demand for a good is 0.43 an increase in the
ECONOMICS
JAMB 2018
If the price elasticity of demand for a good is 0.43 an increase in the price of the good will result in____________
- A. a decrease in profit by 43%
- B. an increase in profit by 43%
- C. a net loss
- D. a net gain
Correct Answer: A. a decrease in profit by 43%
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