Multiple Choice
Suppose that the price of a product increased from $18 to $22,and the quantity demanded decreased from 63 to 57.What is the value of the price elasticity of demand?
A) 0.43.
B) 0.5.
C) 1.5.
D) 2.0.
E) 2.3.
Correct Answer:
Verified
Correct Answer:
Verified
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