Multiple Choice
The price of a firm's product increases from $2.30 to $2.60. As a result, the firm's total revenue decreases from $460,000 to $208,000. The arc price elasticity of demand for the good is equal to
A) -70.
B) -7.
C) -0.7.
D) 0.
Correct Answer:
Verified
Correct Answer:
Verified
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