In the figure above, what is the point price elasticity of demand when price is $80? Multiple Choice -0.50 -0.75 -1.00 -1.60 -2.00

Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter19: Elasticity
Section19.1: Elasticity: Part 1
Problem 2ST: What does a price elasticity of demand of 0.39 mean?
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120
100-
Price ($)
80
60
40
20-
0
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400
Demand
Multiple Choice
-0.50
-0.75
-1.00
-1.60
-2.00
600 800 1,000 1,200
Quantity
In the figure above, what is the point price elasticity of demand when price is $80?
Transcribed Image Text:120 100- Price ($) 80 60 40 20- 0 200 400 Demand Multiple Choice -0.50 -0.75 -1.00 -1.60 -2.00 600 800 1,000 1,200 Quantity In the figure above, what is the point price elasticity of demand when price is $80?
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