Multiple Choice
If the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 slices to 7,400 slices, using the formula for arc price elasticity, what is the percentage change in quantity?
A) -18.18%
B) -29.89%
C) -26%
D) -35.14%
Correct Answer:
Verified
Related Questions
Q3: The elasticity of demand is
A)measured in money
Q8: Q8: Horizontal and vertical demand curves Q9: If the elasticity of demand is -2.3 Q10: To calculate the point elasticity of demand,
A)have constant elasticities.
B)are
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