Question
A firm sells 42 units of a good when it charges a price of $12 per unit.When it lowers its price to $8 per unit
A firm sells 42 units of a good when it charges a price of $12 per unit.When it lowers its price to $8 per unit it sells 68 units.What is the price elasticity of demand?Round your final answer to two decimal places.
Group of answer choices
-1.27
-1.18
-1.34
-0.96
-0.85
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Economics Principles and Policy
Authors: William J. Baumol, Alan S. Blinder
12th edition
978-0538453677, 538453672, 978-0538453622, 538453621, 978-0538453653
