Multiple Choice
When the price of running shoes goes from $100 to $80, the quantity demanded increases from 20 to 30 million. Over this price range, the absolute value of the price elasticity of demand is
A) 0.55.
B) 1.
C) 1.25.
D) 1.80.
E) 2.50.
Correct Answer:
Verified
Correct Answer:
Verified
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