Multiple Choice
Suppose the price elasticity of demand for apples is 2.3 and the price elasticity of demand for housing is .65.In comparing price elasticities of demand,it is proper to say that the demand for apples is
A) inelastic; for housing it is elastic.
B) more elastic than the demand for housing.
C) more inelastic than the demand for housing.
D) more than three times as inelastic as the demand for housing.
E) less elastic than the demand for housing.
Correct Answer:
Verified
Correct Answer:
Verified
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