Multiple Choice
As the price for some product increases from $4.00 to $5.00 per unit, quantity demanded decreases from 400 to 300 units per month. For this segment of the demand curve, the price elasticity of demand is
A) 7.
B) 9.
C) 1.
D) 9/7.
E) 7/9.
Correct Answer:
Verified
Correct Answer:
Verified
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