10. Refer to Table 5.1. If price increases from $10 to $20, the price elasticity of demand is a. 10. b. 5. c. 3.3. d. 3. e. 0.5.

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter5: Elasticity
Section: Chapter Questions
Problem 22RQ: What is the formula for line cross-price elasticity of demand?
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10. Refer to Table 5.1. If price increases from $10 to $20, the price elasticity of demand is
a. 10.
b. 5.
c. 3.3.
d. 3.
e. 0.5.
Transcribed Image Text:10 20 30 40 50 $50 $40 $30 $20 $10 10. Refer to Table 5.1. If price increases from $10 to $20, the price elasticity of demand is a. 10. b. 5. c. 3.3. d. 3. e. 0.5.
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