Julia Knows the Price Elasticity of Movie Rentals Is 3

question 153

Multiple Choice

Julia knows the price elasticity of movie rentals is 3.She knows, therefore, that if she raises her price from $2 to $2.50, her rentals will drop by approximately

• A)150 percent.
• B)100 percent.
• C)75 percent.
• D)33 percent.

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