If the price elasticity of demand for a good is 0.43, an increase in the
ECONOMICS
JAMB 2001
If the price elasticity of demand for a good is 0.43, an increase in the price of the good will result in?
- A. an increase in profit by 43%
- B. a net gain
- C. a decrease in profit 43%
- D. a net loss
Correct Answer: B. a net gain
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