Question: If a 1 percent decrease in the price of a good leads to a 0.50 percent increase in the quantity demanded, the price elasticity of

If a 1 percent decrease in the price of a good leads to a 0.50 percent increase in the quantity demanded, the price elasticity of demand for the good equals ________.

A. 2.0

B. 1.0

C. 0.50

D. 0.75

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