If the Price of a DVD Decreases by 50 Percent,the

question 76

Multiple Choice

If the price of a DVD decreases by 50 percent,the quantity demanded increases by 75 percent.The price elasticity of demand is:

• A)1.5 and is elastic.
• B)1.5 and is inelastic.
• C)0.67 and is elastic.
• D)0.67 and is inelastic.

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