Answer to Question #118346 in Microeconomics for rupinder

Question #118346

What will happen to the quantity demanded if the price elasticity of demand is 2 and price increases by 10%?

A. It increases by 10%.
B. It decreases by 5%.
C. It decreases by 20%.
D. It increases by 20%.

Expert's answer

C. It decreases by 20%

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