If an Increase in the Price of a Product from $1

question 197

Multiple Choice

If an increase in the price of a product from $1 to $2 per unit leads to a decrease in the quantity demanded from 100 to 80 units,then the value of the price elasticity of demand is _____

• A)−1/3.
• B)−2 1/3.
• C)−1/4.
• D)−3.
• E)−2/3.

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