ECONOMICS
ELASTICITY OF DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The price elasticity of demand for grapes is-2.0. When the price is $15, quantity demanded is 5000 units.How much will be demanded when the price falls to $12?
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3000 units
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5500 units
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7000 units
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7500 units
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Explanation:
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