Melvin's Magnets Earned $200 in Total Revenue Last Month When

question 6

Multiple Choice

Melvin's Magnets earned $200 in total revenue last month when it sold 100 souvenir magnets.This month it earned $300 in total revenue when it sold 60 souvenir magnets.The price elasticity of demand for Marvin's Magnets is

• A) 0.27.
• B) 0.58.
• C) 1.25.
• D) 1.71.

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