Multiple Choice
Suppose a rise in the price of a good from $6.50 to $7.50 leads to a decrease in the quantity demanded from 10,500 to 9,500 units. In this range of demand, the price elasticity of demand is
A) 14.
B) 7.
C) 1,000.
D) 1.
E) 0.7.
Correct Answer:
Verified
Correct Answer:
Verified
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