Solution-Percent increase in quantity demanded

Percent increase in quantity demanded

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Reference no: EM131966194

if the price elasticity of demand for a good is 1.5 then a 3 percent decrease in price results in a 4.5 percent increase in quantity demanded.

Can you please explain how can did they get 4.5 percent increase in Qd?

Reference no: EM131966194

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Percent increase in quantity demanded : if the price elasticity of demand for a good is 1.5 then a 3 percent decrease in price results in a 4.5 percent increase in quantity demanded.

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Percent increase in quantity demanded

Reference no: EM131966194

Reference no: EM131966194

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