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When the Price of a Watch Was $25 Each,the Jewelry

Question 102

Multiple Choice

When the price of a watch was $25 each,the jewelry shop sold 20 per month.When it raised the price to $35 each,it sold 14 per month.The price elasticity of demand for watches is about


A) 1.66.
B) 1.06.
C) 0.94.
D) 0.60.

Correct Answer:

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