If a 30 percent decline in the price of gasoline leads to a 15 percent rise in expenditures on gasoline, the price elasticity of demand for gasoline in this range must be
A) 2.
B) elastic.
C) 0.5.
D) inelastic.

Question

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The Answer of If a 30 percent decline in the price of gasoline leads to a 15 percent rise in expenditures on gasoline, the price elasticity of demand for gasoline in this range must be
A) 2.
B) elastic.
C) 0.5.
D) inelastic.

If a 30 Percent Decline in the Price of Gasoline