Multiple Choice
The price of a loaf of sourdough bread falls from $2 to $1. In response to this price change, the quantity demanded for sourdough bread increases by 30%. What is the absolute value of the price elasticity of demand for sourdough bread?
A) 1.67
B) -1.67
C) 0.6
D) -0.6
Correct Answer:
Verified
Correct Answer:
Verified
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