imcoo1974 imcoo1974

07-05-2024
Business

Answered

The price elasticity of demand for health care is 0.2 . This means that a 25 percent increase in price will induce a:

a. 5 percent decrease in quantity demanded.
b. 12.5 percent decrease in quantity demanded.
c. 25 percent decrease in quantity demanded.
d. 50 percent decrease in quantity demanded.

Answer :

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