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If the Price of Snorkeling Tours Decreases by 15% and This

Question 105

Multiple Choice

If the price of snorkeling tours decreases by 15% and this leads to an increase in the quantity demanded of 30%, the price elasticity of demand is _____ and the demand for snorkeling tours is _____.


A) 0.5; elastic
B) 0.5; inelastic
C) 2; elastic
D) 2; inelastic

Correct Answer:

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