Use the following to answer question:
Figure 2.10
-(Figure 2.10) What is the price elasticity of demand at point A?
A) -2.6
B) -1.54
C) -0.7
D) -3.2

Name: Use the following to answer question: Figure 2.10 -(Figure 2.10) What is the price elasticity of demand at point A? A) -2.6 B) -1.54 C) -0.7 D) -3.2
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Question

Use the following to answer question:
Figure 2.10 
-(Figure 2.10) What is the price elasticity of demand at point A?
A) -2.6 
B) -1.54 
C) -0.7 
D) -3.2

Quizplus · Accepted Answer

The Price Elasticity of Demand (PED) at point A is the absolute value of the slope of the tangent line at A, which is approximately -1.54. Therefore, the answer is (B).

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