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price-of-a-product-falls-by-10-and-its-demand-rises-by-30-the-elasticity-of-demand-is

Question

Price of a product falls by 10% and its demand rises by 30%. The elasticity of demand is

[A] 10%

[B] 30%

[C] 3%

[D] 13%

Answer & Explanation
Answer: 3%

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