Multiple Choice
An owner of an appliance store lowers the price of dishwashers from $400 to $350, which increases the number of dishwashers sold from 1,000 to 1,200. What is the elasticity of demand?
A) 1.25
B) 1.4
C) 1.36
D) 0.73
Correct Answer:
Verified
Correct Answer:
Verified
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