Multiple Choice
The price of chicken breast rises from $3.50 per pound to $4.25 per pound. In response to this price change, the quantity demanded for chicken breast falls by 30%. What is the absolute value of the price elasticity of demand for chicken breast?
A) 0.83
B) -0.83
C) 1.4
D) -1.4
Correct Answer:
Verified
Correct Answer:
Verified
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