If the price elasticity of demand coefficient is 4, then:a. a price increase of 1% will reduce quantity demanded by 1/4%b. A price increase of 1% will reduce quantity demanded by 4%c. A price increase of 1% will reduce quantity demanded by 1/4%d. A price decrease of 1% will reduce quantity demanded by 1/4%
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Home » Business » If the price elasticity of demand coefficient is 4, then:a. a price increase of 1% will reduce quantity demanded by 1/4%b. A price increase of 1% will reduce quantity demanded by 4%c. A price increase of 1% will reduce quantity demanded by 1/4%d.