-Refer to Figure 5.1.Using the initial-value method,if the price of a hamburger is decreased from $10 to $8,the price elasticity of demand equals
A) 1.0.
B) 1.5.
C) 2.0.
D) 5.0.

Question

-Refer to Figure 5.1.Using the initial-value method,if the price of a hamburger is decreased from $10 to $8,the price elasticity of demand equals
A) 1.0. 
B) 1.5. 
C) 2.0. 
D) 5.0.

Quizplus · Accepted Answer

The Answer of 
-Refer to Figure 5.1.Using the initial-value method,if the price of a hamburger is decreased from $10 to $8,the price elasticity of demand equals
A) 1.0. 
B) 1.5. 
C) 2.0. 
D) 5.0.