A manufacturer faces a -1.2 price elasticity of demand for its product – McqOptions

MCQOPTIONS

1.	A manufacturer faces a -1.2 price elasticity of demand for its product. It is presently selling 7,500 units/day. If it wants to increase quantity sold by 9%, itÂ must lower its price by
A.	7.5 percent
B.	7.8 percent
C.	10.2 percent
D.	10 percent
Answer» B. 7.8 percent

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