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Own-price elasticity of demand

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Reference no: EM131438122

If the own-price elasticity of demand for your company's product is -0.6, by how much would you have to decrease your price if you wanted to increase the quantity your customers demand by 10%?

  • 6%
  • 16.67%
  • 0.6%
  • 1.67%

Reference no: EM131438122

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