Exhibit 19-9

-Refer to Exhibit 19-9. What is the price elasticity of demand between $4 and $6?
A)0.825
B)0.833
C)1.25
D)1.20

Question

Exhibit 19-9
​
 
-Refer to Exhibit 19-9. What is the price elasticity of demand between $4 and $6?
A)0.825 
B)0.833 
C)1.25 
D)1.20

Quizplus · Accepted Answer

The price elasticity of demand is calculated using the formula: (percentage change in quantity demanded) / (percentage change in price). Without specific quantity data from Exhibit 19-9, the correct choice is typically derived from given options or context. Here, 1.25 is a common elasticity value indicating elastic demand.

Exhibit 19-9 ​

Exhibit 19-9