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A manufacturer faces price elasticity of demand of a 1.25 for its product. If it lowers its price by 6.4%, the increase in quantity sold will be _____.a)5.15 percentb)7.65 percentc)8 percentd)5.12 percentCorrect answer is option 'C'. Can you explain this answer? for Teaching 2024 is part of Teaching preparation. The Question and answers have been prepared according to the Teaching exam syllabus. Information about A manufacturer faces price elasticity of demand of a 1.25 for its product. If it lowers its price by 6.4%, the increase in quantity sold will be _____.a)5.15 percentb)7.65 percentc)8 percentd)5.12 percentCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Teaching 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A manufacturer faces price elasticity of demand of a 1.25 for its product. If it lowers its price by 6.4%, the increase in quantity sold will be _____.a)5.15 percentb)7.65 percentc)8 percentd)5.12 percentCorrect answer is option 'C'. Can you explain this answer?.

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