Multiple Choice
Suppose that when the price of a good is $15, the quantity demanded is 40 units, and when the price falls to $6, the quantity increases to 60 units. The price elasticity of demand near a price of $6 and a quantity of 60 can be calculated as:
A) -5/6
B) -2
C) -2/9
D) -9/2
Correct Answer:
Verified
Correct Answer:
Verified
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