Multiple Choice
A health club sells 50 memberships when the monthly price is $60 and 70 memberships when the monthly price is $40. The price elasticity of demand for memberships at this health club is (using the average values method) :
A) 0.25.
B) 0.6.
C) 1.0.
D) 1.1.
E) 0.83
Correct Answer:
Verified
Correct Answer:
Verified
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