Suppose That the Quantity of Root Beer Demanded Declines from 103,000

question 210

Multiple Choice

Suppose that the quantity of root beer demanded declines from 103,000 gallons per week to 97,000 gallons per week as a consequence of a 10 percent increase in the price of root beer. The price elasticity of demand is

• A) 0.60.
• B) 1.40.
• C) 1.66.
• D) 6.00.

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