ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
The price elasticity of demand for physicians’ services is ˗0.20. Your group controls 10 percent of the market. What price elasticity does your firm face?
A. ˗0.02
B. 4.00
C. None of these
D. ˗4.00
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