John Doe estimates that the price elasticity of demand for new SUVs to be 0.75. If the price of SUVs rose by 15%; would the quantity demanded of new SUVs rise or fall? By what percentage?
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Home » Mathematics » John Doe estimates that the price elasticity of demand for new SUVs to be 0.75. If the price of SUVs rose by 15%; would the quantity demanded of new SUVs rise or fall? By what percentage?