Question
If the price of potato chips falls from $1.45 to $1.25 resulting in the quantity demanded rising from 2,000 to 2,200 bags, what is the
If the price of potato chips falls from $1.45 to $1.25 resulting in the quantity demanded rising from 2,000 to 2,200 bags, what is the price elasticity of demand? Use the method taught in lecture.
Group of answer choices
-1.00
-0.64
-2.00
-1.55
None of these are correct.
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Managerial Economics Applications, Strategies and Tactics
Authors: James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
13th edition
1285420926, 978-1285962399, 978-1285947853, 1285947851, 978-1285420929
