Multiple Choice
The initial price for an item is $5.00,and the quantity demanded is 350 units.When the price is raised to $5.25,the quantity demanded falls to 300 units.The absolute value of the point elasticity of demand is _____.
A) 2.25
B) 2.86
C) 3.5
D) 4.05
E) 5.75
Correct Answer:
Verified
Correct Answer:
Verified
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