Multiple Choice
As the price of video games is raised from $20to $25,their quantity demanded fell from 1.5 million copies to 1 million copies. The price elasticity of demand for video games is:
A) -0.55
B) -1.8
C) -1.33
D) -2.08
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q69: Coffee Mug Pricing<br>Manny's Merchandising can custom print
Q70: The price elasticity of demand for a
Q71: In general,the smaller the price elasticity:<br>A)the smaller
Q72: Its lunch time,you are hungry and would
Q73: You have the following demand schedule for
Q75: The demand for a product is more
Q76: What is the most likely effect of
Q77: The demand for Dell laptops is more
Q78: Given that the own-price elasticity of demand
Q79: The quantity demanded of good X falls