Multiple Choice
If an increase in the price of a product from $1 to $2 per unit leads to a decrease in the quantity demanded from 100 to 80 units,then the value of the price elasticity of demand is _____
A) −1/3.
B) −2 1/3.
C) −1/4.
D) −3.
E) −2/3.
Correct Answer:
Verified
Correct Answer:
Verified
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