Multiple Choice
Suppose the price of a bus ticket rises from $2.75 to $3.75 and the number of tickets sold falls from 10 000 to 8500, the price elasticity of demand, in absolute term, is:
A) 0.527.
B) 1.
C) -0.527.
D) -1.
Correct Answer:
Verified
Correct Answer:
Verified
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