At $6 Per Steak, Consumers Are Willing to Buy Two

question 241

Multiple Choice

At $6 per steak, consumers are willing to buy two steaks.At a price of $2, consumers are willing to buy six steaks.The elasticity of the market demand curve between P = $6 and P = $2 (dropping all minus signs) is

• A)0.33.
• B)1
• C)2
• D)4

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