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If the Price of Burritos Increases from $4 to $6

Question 170

Multiple Choice

If the price of burritos increases from $4 to $6 and customers decrease their consumption from 20 to 10 burritos,what is the price elasticity of demand (by the midpoint method) ?


A) 1.67
B) 0.67
C) 3
D) 2

Correct Answer:

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