Multiple Choice
If the price of chocolate-covered peanuts decreases from $1.05 to $0.95 and the quantity demanded increases from 180 bags to 220 bags, this indicates that, if other things are unchanged, the price elasticity of demand is:
A) -0.5.
B) -1.
C) -2.
D) greater than 2 (absolute value) .
Correct Answer:
Verified
Correct Answer:
Verified
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