Suppose that the quantity demanded of a good rises from 40 units to 60 units per month when the price falls from $1.05 to 95 cents per unit. The price elasticity of demand for this product is
A) 1.5
B) 4.0
C) 1.0
D) 2.0
E) 0.5

Question

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The Answer of Suppose that the quantity demanded of a good rises from 40 units to 60 units per month when the price falls from $1.05 to 95 cents per unit. The price elasticity of demand for this product is
A) 1.5
B) 4.0
C) 1.0
D) 2.0
E) 0.5

Suppose That the Quantity Demanded of a Good Rises from 40