Multiple Choice
At a price of $25,a store can sell 28 picture frames a day.If the price falls to $20,the store can sell 35 picture frames a day.Using the initial-value method,the price elasticity of demand is:
A) 1.9.
B) 2.5.
C) 0.8.
D) 1.25.
Correct Answer:
Verified
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