If the Price of Food Falls by 10 Percent and the Quantity

question 131

Multiple Choice

If the price of food falls by 10 percent and the quantity sold increases by 5 percent,then the price elasticity of demand in that range equals

• A)2,and demand is elastic
• B)0.5,and demand is elastic
• C)2,and demand is inelastic
• D)0.5,and demand is inelastic
• E)15,and demand is elastic

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