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Total Demand for a Movie Drops from 400 to 350

Question 40

Multiple Choice

Total demand for a movie drops from 400 to 350 units when a theater operator increases the ticket price for a popular movie from $7 to $9.Price elasticity of demand (expressed as a positive number) equals ________.


A) 0.125
B) 0.53
C) 0.67
D) 2.50

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