Multiple Choice
assume that the income is $10,000, the price of the related good is $40, and Conlan chooses to set the price of this product at $30.
-At the prices and income given above, what is the price elasticity of demand?
A) -0.43
B) -0.86
C) -1.00
D) -1.43
E) -2.40
Correct Answer:
Verified
Correct Answer:
Verified
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