If the price elasticity of demand for a good is 0.43, an increase in the...

Economics

JAMB 2001

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

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Correct Answer: Option B

Explanation

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If the price elasticity of demand for a good is 0.43, an increase in the...

Correct Answer: Option B

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