If the Price of a Slice of Pizza Rises from $2.50

question 67

Multiple Choice

If the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 slices to 7,400 slices, using the formula for arc price elasticity, what is the percentage change in quantity?

• A)-18.18%
• B)-29.89%
• C)-26%
• D)-35.14%

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