Multiple Choice
You have the following demand equation for a pack of cigarettes: Q = 200 - 0.30P with the average quantity 3 packs and average price $3.00 per pack.What is the price elasticity?
A) 0.30
B) -0.30
C) 1.0
D) -1.0
Correct Answer:
Verified
Correct Answer:
Verified
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