Exhibit 5-9 Supply and Demand Curves for Good X

As shown in Exhibit 5-9, the price elasticity of demand for good X between points E and B is:
A) 3/7 = 0.43.
B) 7/3 = 2.33.
C) 1/2 = 0.50.
D) 1.

Question

Exhibit 5-9 Supply and Demand Curves for Good X
​

As shown in Exhibit 5-9, the price elasticity of demand for good X between points E and B is:
A) 3/7 = 0.43. 
B) 7/3 = 2.33. 
C) 1/2 = 0.50. 
D) 1.

Quizplus · Accepted Answer

The Answer of Exhibit 5-9 Supply and Demand Curves for Good X
​

As shown in Exhibit 5-9, the price elasticity of demand for good X between points E and B is:
A) 3/7 = 0.43. 
B) 7/3 = 2.33. 
C) 1/2 = 0.50. 
D) 1.