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Suppose That the Quantity Demanded of Paperback Novels Rises from 80

Question 52

Multiple Choice

Suppose that the quantity demanded of paperback novels rises from 80 000 to 120 000 units per month when the price falls from $11 to $9 per unit.The price elasticity of demand for this product is


A) 1/3.
B) 1.
C) 2/3.
D) 3/2.
E) 2.

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