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When the Price of Football Ticket Is $100, Eric Buys

Question 9

Multiple Choice

When the price of football ticket is $100, Eric buys four tickets each year. When the price is $90, he buys six tickets each year. What is Eric's price elasticity of demand when price decreases?


A) 5
B) 0.2
C) 3
D) 1.5

Correct Answer:

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