Multiple Choice
Table 5.2 shows the change in the quantity demanded for Good A and Good B as a result of the change in their price. Use the information in the table below to calculate the value of the price elasticity of demand for Good B. Table 5.2
Quantity
Price
Good A
100
$10
120
$ 9
Good B
200
$20
140
$35
A) −2/3
B) −1/6
C) −1/2
D) −11/17
E) −17/11
Correct Answer:
Verified
Correct Answer:
Verified
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