When the price of kittens was $25 each,the pet shop sold 20 per month.When they raised the price to $35 each,they sold 14 per month.The price elasticity of demand for kittens is about
A) 1.66.
B) 1.06.
C) 0.94.
D) 0.60.
Correct Answer:
Verified
Q56: Figure 5-2 Q57: Figure 5-1 Q63: When the local used bookstore prices economics Q90: For a particular good,a 2 percent increase Q110: When demand is perfectly inelastic,the price elasticity Q111: Suppose demand is perfectly inelastic,and the supply Q119: A perfectly elastic demand implies that Q134: When quantity moves proportionately the same amount Q143: For a particular good, a 3 percent Q156: Demand is inelastic if elasticity is
A)buyers will
A) less
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents