Multiple Choice
Suppose that the quantity demanded of a good rises from 40 units to 60 units per month when the price falls from $1.05 to 95 cents per unit.The price elasticity of demand for this product is
A) 0.5
B) 1.5
C) 1.0
D) 2.0
E) 4.0
Correct Answer:
Verified
Correct Answer:
Verified
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