The price of a dozen eggs falls from $2.50 to $1.50. In response to the price change, quantity demanded for eggs increases by 30%. The absolute value of the price elasticity of demand for eggs is _____, and the price elasticity of demand is _____.
A)1.33; elastic
B)1.33; inelastic
C)0.75; elastic
D)0.75; inelastic

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The Answer of The price of a dozen eggs falls from $2.50 to $1.50. In response to the price change, quantity demanded for eggs increases by 30%. The absolute value of the price elasticity of demand for eggs is _____, and the price elasticity of demand is _____.
A)1.33; elastic
B)1.33; inelastic
C)0.75; elastic
D)0.75; inelastic

The Price of a Dozen Eggs Falls from $2