-According to the above table, what is the absolute price elasticity of demand when price rises from $5.50 to $6?
A) 4.00
B) 2.23
C) 1.21
D) 0.50

Question

-According to the above table, what is the absolute price elasticity of demand when price rises from $5.50 to $6?
A) 4.00 
B) 2.23 
C) 1.21 
D) 0.50

Quizplus · Accepted Answer

The absolute price elasticity of demand is calculated using the formula: (percentage change in quantity demanded) / (percentage change in price). The given options suggest that the correct calculation results in an elasticity of 1.21.

-According to the Above Table, What Is the Absolute Price