Multiple Choice
If the price of a DVD decreases by 50 percent,the quantity demanded increases by 75 percent.The price elasticity of demand is:
A) 1.5 and is elastic.
B) 1.5 and is inelastic.
C) 0.67 and is elastic.
D) 0.67 and is inelastic.
Correct Answer:
Verified
Correct Answer:
Verified
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