Multiple Choice
When the price of a pair of gloves is $21,the quantity demanded is 600 pairs.When the price of a pair of gloves is $15,the quantity demanded is 1,000 pairs.Calculate the price elasticity of demand when the price of a pair of gloves is $18.
A) 1.5
B) 0.67
C) 66.7
D) 0.015
E) 1.0
Correct Answer:
Verified
Correct Answer:
Verified
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