When the Price of Running Shoes Goes from $100 to $80

question 18

Multiple Choice

When the price of running shoes goes from $100 to $80, the quantity demanded increases from 20 to 30 million. Over this price range, the absolute value of the price elasticity of demand is

• A) 0.55.
• B) 1.
• C) 1.25.
• D) 1.80.
• E) 2.50.

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