Multiple Choice
The quantity of pencils sold is 1000 at the unit price $0.5. Suppose the price elasticity of demand for pencils by the initial value method is 2, and you would like to increase the quantity sold to 1200. Then the new price for pencils must be
A) $0.05.
B) $0.25.
C) $0.30.
D) $0.45.
Correct Answer:
Verified
Correct Answer:
Verified
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