Multiple Choice
Assume the price elasticity of demand for U.S.Frisbee Co.Frisbees is 0.5.If the company increases the price of each Frisbee from $12 to $16,the number of Frisbees demanded will
A) Decrease by 14.3 percent.
B) Decrease by 33.3 percent.
C) Increase by 20.0 percent.
D) Increase by 7.0 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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