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Harry's Barber Shop Increased Its Total Monthly Revenue from $1,500

Question 55

Multiple Choice

Harry's Barber Shop increased its total monthly revenue from $1,500 to $1,800 when it raised the price of a haircut from $5 to $9.The price elasticity of demand for Harry's Haircuts is


A) 0.567.
B) 0.700.
C) 1.429.
D) 2.200.

Correct Answer:

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