Table 6-6 Price of Book Copies Sold at Total Revenue at $14.99 9.99 That Price 100,000 174,000 That Price $1,499,000 1,738,000 Refer to Table 6-6. Based on the data in the table, between a price of $9.99 and $14.99, the price elasticity of demand for books is O-1.35. O -0.74. O-14.8. O-1.16.
Table 6-6 Price of Book Copies Sold at Total Revenue at $14.99 9.99 That Price 100,000 174,000 That Price $1,499,000 1,738,000 Refer to Table 6-6. Based on the data in the table, between a price of $9.99 and $14.99, the price elasticity of demand for books is O-1.35. O -0.74. O-14.8. O-1.16.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Elastic And Its Application
Section: Chapter Questions
Problem 2CQQ: The price of a good rises from 8 to 12, and the quantity demanded falls from 110 to 90 units....
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