If the price elasticity of demand for good A is -4, then a 2% increase in
A. consumer income will result in a 2% decrease in the demand for good A.
B. the market price of good A will result in a 8% increase in the quantity demanded of good A.
C. consumer income will result in a 2% increase in the demand for good A.
D. the market price of good A will result in a 8% decrease in the quantity demanded of good A.
Answer: D
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