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Question
Celine runs a sporting goods store and knows that the price elasticity of demand for her sports clothing line is -1.5. She is planning to lower prices by 10 percent. The percentage change in quantity demanded will be
a. 15 percent.
b. 0.15 percent.
c. 6.66 percent.
d. 0.06 percent.
e. 8.50 percent.
Answer
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