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If the Price of a Slice of Pizza Rises from $2.50

Question 37

Multiple Choice

If the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 slices to 7,400 slices, calculate the arc price elasticity.


A) -1.92
B) -1.64
C) -4
D) -2

Correct Answer:

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