Multiple Choice
A fall in the price of a good from $10.50 to $9.50 results in an increase in the quantity demanded from 18,800 to 21,200 units. The price elasticity of demand is
A) 0.8.
B) 1.25.
C) 1.2.
D) 8.0.
E) 2.4.
Correct Answer:
Verified
Correct Answer:
Verified
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