Multiple Choice
Suppose that in a month the price of pizza increases from $4 to $5. At the same time, the quantity of pizzas demanded decreases from 200 to 190. The price elasticity of demand for pizza (calculated using the midpoint formula) is
A) zero.
B) inelastic.
C) unit elastic.
D) elastic.
Correct Answer:
Verified
Correct Answer:
Verified
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