For a certain good, when price rises from $100 to $150, quantity demanded falls from 2,000 to making the demand for this good 1,200. The price elasticity of demand here is in the price range between $100 and $150. O 0.8; inelastic 0.67; inelastic O 0.15; inelastic 1.50; elastic 1.25; elastic
For a certain good, when price rises from $100 to $150, quantity demanded falls from 2,000 to making the demand for this good 1,200. The price elasticity of demand here is in the price range between $100 and $150. O 0.8; inelastic 0.67; inelastic O 0.15; inelastic 1.50; elastic 1.25; elastic
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 2SQ
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Transcribed Image Text:For a certain good, when price rises from $100 to $150, quantity demanded falls from 2,000 to
1,200. The price elasticity of demand here is
making the demand for this good
in the price range between $100 and $150.
0.8; inelastic
O 0.67; inelastic
0.15; inelastic
1.50; elastic
O 1.25; elastic
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