A peck is 1/4 of a bushel.If the price elasticity of demand for oats is -0.60 when oats are measured in bushels, then when oats are measured in pecks, the price elasticity of demand for oats will be
A)20.15.
B)22.40.
C)20.30.
D)21.20.
E)none of the above.

Question

Quizplus · Accepted Answer

The price elasticity of demand is not affected by the units in which the quantity is measured. Whether oats are measured in bushels or pecks, the price elasticity of demand remains the same. Therefore, changing the unit of measurement from bushels to pecks does not alter the numerical value of the price elasticity of demand.

A Peck Is 1/4 of a Bushel