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  • 07-03-2024
  • Business
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The price elasticity of demand for widgets is 0.8. Assuming no change in the demand curve for widgets, an increase in sales of 16 percent implies a(n) ________.
a) 12.8 percent decrease in price
b) 12.8 percent increase in price
c) 20 percent increase in price
d) 20 percent decrease in price

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