Exhibit 5-2 Price and Quantity Demanded Data -The Data in Exhibit 5-2 Shows That Price Elasticity of c

question 45

Multiple Choice

Exhibit 5-2 Price and quantity demanded data $$\begin{array} { | c | c | } \hline \text { Price } & \text { Quantity Demanded } \\\hline 5 & 20 \\4 & 25 \\3 & 30 \\2 & 35 \\1 & 40 \\\hline\end{array}$$
-The data in Exhibit 5-2 shows that price elasticity of demand is:

• A) increasing as the price decreases.
• B) decreasing as the price increases.
• C) increasing as the quantity increases.
• D) decreasing as the quantity decreases.
• E) decreasing as the quantity increases.

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