Multiple Choice
When the price of one burger is $4,Kate consumes 2 burgers.When the price of one burger decreases to $2,she consumes 4 burgers.Given the information,what is the absolute value of Kate's arc elasticity of demand for burgers?
A) 1.2
B) 1.0
C) 4
D) 5
Correct Answer:
Verified
Correct Answer:
Verified
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