Multiple Choice
When price = $33, quantity demanded = 460. When price = $31, quantity demanded = 500. The price elasticity of demand is _______________, making this an _____________ good in the price range between $31 and $33.
A) 1.33; inelastic
B) 1.33; elastic
C) 0.75; elastic
D) 0.75; inelastic
E) 6.2; elastic
Correct Answer:
Verified
Correct Answer:
Verified
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Q132: Exhibit 19-8<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 19-8
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Q135: Exhibit 19-7<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 19-7
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