Multiple Choice
If the absolute value of the price elasticity of demand for DVD moves is 0.8, then what should be the elasticity of demand for the DVD for the movie The Hangover?
A) Less then 0.8 in absolute value
B) Greater than 0.8 in absolute value
C) Equal to 1 in absolute value
D) Equal to zero because the DVD of this movie has been out for several years
Correct Answer:
Verified
Correct Answer:
Verified
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