Richie's demand function for comic books is x = 30 - 10p where p is the price in dollars and x is the quantity he demands. If the price of comic books is $0.5, what is Richie's price elasticity of demand for comic books?
A) - 10
B) - 1/3
C) - 1/10
D) - 1/5
Correct Answer:
Verified
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A)preferences
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