When price = $33, quantity demanded = 460. When price = $31, quantity demanded = 500. The price elasticity of demand is , making this an good in the price range between $31 and $33.
A. 1.33; inelastic
B. 1.33; elastic
C. 0.75; elastic
D. 0.75; inelastic
E. 6,2; elastic
Answers: 3
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When price = $33, quantity demanded = 460. When price = $31, quantity demanded = 500. The price elas...
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