Suppose the quantity demanded is 2 tickets at a price of $6 per movie ticket and the quantity demanded becomes 6 tickets as the price drops to $4 per movie ticket, what is the point price elasticity of demand of movie tickets?   A.   -6   B.   -2   C.   2   D.   -0.33   E.   none of the above

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Elastic And Its Application
Section: Chapter Questions
Problem 2CQQ: The price of a good rises from 8 to 12, and the quantity demanded falls from 110 to 90 units....
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  1. Suppose the quantity demanded is 2 tickets at a price of $6 per movie ticket and the quantity demanded becomes 6 tickets as the price drops to $4 per movie ticket, what is the point price elasticity of demand of movie tickets?
      A.
      -6
      B.
      -2
      C.
      2
      D.
      -0.33
      E.
      none of the above
     
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