Price elasticity of demand

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Reference no: EM13734365

If price elasticity of demand = -1.5 and price decreases by 10 percent, then

[A] demand will increase by 15 percent.

[B] total revenue will decrease.

[C] quantity demanded will increase by 1.5 percent.

[D] total revenue will remain unchanged.

[E] quantity demanded will increase by 15 percent.

Reference no: EM13734365

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