When the price of bananas is 50 cents a pound, the total demand is 100 pounds.If the price elasticity of demand for bananas is -2, what quantity would be demanded if the price rose to 60 cents a pound?
A) 50 pounds
B) 90 pounds
C) 60 pounds
D) 80 pounds
E) 70 pounds
Correct Answer:
Verified
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