if the price elasticity of demand for wine is -6 , then a 20% increase in price of wine will lead to ___________ in quantity demanded of wine at that price.
a) 12% increase
b) 12% Decrease
c) 19.6% increase
d) 20.6% decrease
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Answer:
c) 19.6% increase
Explanation:
c) 19.6% increase
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