Multiple Choice
The price of turkey breast rises from $3.00 per pound to $3.60 per pound. In response to this price change, the quantity demanded for turkey breast falls by 40%. What is the absolute value of the price elasticity of demand for turkey breast?
A) 0.5
B) -0.5
C) 2
D) -2
Correct Answer:
Verified
Correct Answer:
Verified
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