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Reference: Use Figure 2 to answer questions
Figure SEQ Figure 2: Demand for Widgets Reference: Use Figure 2 to answer questions Figure SEQ Figure 2: Demand for Widgets -If the price of a widget increases from $40 to $50 the absolute value of the price elasticity of demand is A) .25 B) .67 C) 1.5 D) 4
-If the price of a widget increases from $40 to $50 the absolute value of the price elasticity of demand is


A) .25
B) .67
C) 1.5
D) 4

Correct Answer:

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