When Price Is $5 Per Unit, Quantity Demanded Is 12

question 293

Multiple Choice

When price is $5 per unit, quantity demanded is 12 units. When price is $6 per unit, quantity demanded is 8 units. The value of the absolute price elasticity of demand is approximately

• A) 2.20.
• B) 4.00.
• C) 1.82.
• D) 0.36.