If the Local Pizzeria Raises the Price of a Medium

question 90

Multiple Choice

If the local pizzeria raises the price of a medium pizza from $6 to $10 and quantity demanded falls from 700 pizzas a night to 100 pizzas a night,the arc price elasticity of demand for pizzas is:

• A)0.67.
• B)1.5.
• C)2.0.
• D)3.0.

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James Madison

An American statesman, diplomat, expansionist, philosopher, and Founding Father who served as the fourth president of the United States from 1809 to 1817, known as the "Father of the Constitution."