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Richie's Demand Function for Comic Books Is X = 30

Question 37

Multiple Choice

Richie's demand function for comic books is x = 30 - 10p where p is the price in dollars and x is the quantity he demands. If the price of comic books is $0.5, what is Richie's price elasticity of demand for comic books?


A) - 10
B) - 1/3
C) - 1/10
D) - 1/5

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