Multiple Choice
Melvin's Magnets earned $200 in total revenue last month when it sold 100 souvenir magnets.This month it earned $300 in total revenue when it sold 60 souvenir magnets.The price elasticity of demand for Marvin's Magnets is
A) 0.27.
B) 0.58.
C) 1.25.
D) 1.71.
Correct Answer:
Verified
Correct Answer:
Verified
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