After increasing the price of ceiling fans from $60 to $75, a firm finds that its sales decline from 100 to 80 units. The product's price elasticity (expressed as a positive number) is
A) 0.11.
B) 0.20.
C) 1.00.
D) 1.11.

Question

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The Answer of After increasing the price of ceiling fans from $60 to $75, a firm finds that its sales decline from 100 to 80 units. The product's price elasticity (expressed as a positive number) is
A) 0.11.
B) 0.20.
C) 1.00.
D) 1.11.

After Increasing the Price of Ceiling Fans from $60 to $75