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Table: Price Elasticity
-(Table: Price Elasticity) Look at the table Price Elasticity. What is the price elasticity of demand between $1.00 and $0.75?
A) 0.54
B) 0.66
C) 0.75
D) 1.00

Question

Use the following to answer questions:
Table: Price Elasticity 
-(Table: Price Elasticity) Look at the table Price Elasticity. What is the price elasticity of demand between $1.00 and $0.75?
A) 0.54 
B) 0.66 
C) 0.75 
D) 1.00

Quizplus · Accepted Answer

The price elasticity of demand between $1.00 and $0.75 is 0.54. This is calculated by dividing the percentage change in quantity demanded (25%) by the percentage change in price (25%).

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