Multiple Choice
A sporting goods store observes that as they reduce the price of squash balls from $5 to $4, their quantity demanded rises from 200 to 220. Rounding to the nearest tenth, they correctly compute the elasticity of demand of squash balls to be:
A) 0.1.
B) 0.4.
C) 2.3.
D) 5.
Correct Answer:
Verified
Correct Answer:
Verified
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