A shift of the supply curve of DVDs raises the price of a DVD from $9.50 to $10.50 a DVD and reduces the quantity demanded from 41 million to 39 million DVDs a month. The price elasticity of demand for DVDs is
A) 2 million DVDs a month per dollar.
B) $1 per 2 million barrels a day.
C) 0.5.
D) 2.0.

Question

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The Answer of A shift of the supply curve of DVDs raises the price of a DVD from $9.50 to $10.50 a DVD and reduces the quantity demanded from 41 million to 39 million DVDs a month. The price elasticity of demand for DVDs is
A) 2 million DVDs a month per dollar.
B) $1 per 2 million barrels a day.
C) 0.5.
D) 2.0.

A Shift of the Supply Curve of DVDs Raises the Price