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If The Price Elasticity Of Demand For A Good Is 0.43; An Increase In The Price Of The Good Will Result In? - Erudites Academy

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

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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