Multiple Choice
Suppose that the price of a product increased from $1.90 to $2.10,and the quantity demanded decreased from 24 to 16.What is the value of the price elasticity of demand?
A) 0.5.
B) 0.58.
C) 1.0.
D) 1.73.
E) 4.0.
Correct Answer:
Verified
Correct Answer:
Verified
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