If the price of a DVD decreases by 50 percent, the quantity demanded increases by 75 percent. The price elasticity of demand is: O-1.5 and is elastic. O-1.5 and is inelastic. O-0.67 and is inelastic. O-0.67 and is stic.

If the price of a DVD decreases by 50 percent, the quantity demanded increases by 75 percent. The price elasticity of demand is: O-1.5 and is elastic. O-1.5 and is inelastic. O-0.67 and is inelastic. O-0.67 and is stic.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If the price of a DVD decreases by 50 percent, the quantity demanded increases by 75
percent. The price elasticity of demand is:
O-1.5 and is elastic.
O-1.5 and is inelastic.
O-0.67 and is inelastic.
O-0.67 and is elastic.

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