Multiple Choice
If at a price of $8, the quantity of movie tickets bought will be 3300 per day, and at $12, the ticket quantity bought will be 2700 per day, then the price elasticity of demand for movie tickets is approximately:
A) 0.4
B) 0.5
C) 0.7
D) 2.0
E) 2.5
Correct Answer:
Verified
Correct Answer:
Verified
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