Suppose a Rise in the Price of a Good from $6.50

question 57

Multiple Choice

Suppose a rise in the price of a good from $6.50 to $7.50 leads to a decrease in the quantity demanded from 10,500 to 9,500 units. In this range of demand, the price elasticity of demand is

• A)14.
• B)7.
• C)1,000.
• D)1.
• E)0.7.

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