If the quantity of lawn mowers demanded falls from 100 to 60 in response to an increase
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If the quantity of lawn mowers demanded falls from 100 to 60 in response to an increase in the price of mowers from $100 to $140, then we know that the price elasticity of demand for lawn mowers within the price range $100 and $140 is
a. 0.25.
b. 3.00.
c. 2.25.
d. 1.00.
e. 1.50.
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