Multiple Choice
Big Alice Ice Cream Parlor reduced its price of an ice cream cone from $1 to 90 cents.Sales consequently increased from 1,000 cones per week to 1,050 cones per week.The approximate price elasticity is
A) 0.20.
B) 0.46.
C) 2.16.
D) 5.00.
Correct Answer:
Verified
Correct Answer:
Verified
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