Multiple Choice
Suppose the quantity of gasoline is measured in litres and the price of gasoline is measured in dollars.The price elasticity of demand is 0.67.If the price of gasoline is then measured in cents rather than in dollars,the price elasticity of demand would be
A) 6.7.
B) 67.0.
C) 0.67.
D) 0.0067.
E) negative.
Correct Answer:
Verified
Correct Answer:
Verified
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