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 29|Categories: Economics JAMB| 0 comments

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

Correct Answer:

Option B – an increase in profit by 43%

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