Multiple Choice
Leo's Bakery reduces the price of wheat bread from $3 to $1 and finds that quantity demanded increases from 100 to 122 loaves. Leo calculates that his price elasticity of demand for wheat bread is:
A) 0.
B) 0.2.
C) 1.0.
D) 1.5.
E) 2.0
Correct Answer:
Verified
Correct Answer:
Verified
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