Multiple Choice
Suppose a rise in the price of peaches from $5.50 to $6.50 per kilogram decreases the quantity demanded from 12,500 to 11,500 kilograms. The price elasticity of demand is
A) 1000.0.
B) 2.0.
C) 1.0.
D) 0.5.
Correct Answer:
Verified
Correct Answer:
Verified
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