Multiple Choice
Suppose that the quantity demanded of skipping ropes rises from 1250 to 1750 units when the price falls from $1.25 to $0.75 per unit.The price elasticity of demand for this product is
A) 1/3.
B) 2/3.
C) 1.
D) 3/2.
E) 2.
Correct Answer:
Verified
Correct Answer:
Verified
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