If the price elasticity of demand for a good is 0.43 an increase in the price of the good will result in ______?

By: |Published on: Oct 18|Categories: Economics JAMB| 0 comments

A. a decrease in profit by 43%
B. an increase in profit by 43%
C. a net loss
D. a net gain

Correct Answer:

Option A – a decrease in profit by 43%

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