Multiple Choice
Jack owns a pumpkin patch and has been selling pumpkins for $10. As Halloween approaches, he worries about having too many unsold pumpkins, so he lowers the price by 20%. If the price elasticity of demand for pumpkins is 1.5, how many more pumpkins will Jack sell?
A) 10% more
B) 13.3% more
C) 25% more
D) 30% more
Correct Answer:
Verified
Correct Answer:
Verified
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