Multiple Choice
Suppose that the quantity of DVD players sold increased from 200 to 400 when the price fell from $225 to $175. Over this price range, the absolute value of the price elasticity of demand for DVD players is
A) 0.25.
B) 0.375.
C) 1.0.
D) 2.67.
E) 4.0.
Correct Answer:
Verified
Correct Answer:
Verified
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