question archive Suppose Sally O'Neal's pizza restaurant raises the price of a large cheese pizza from $8 to $10
Suppose Sally O'Neal's pizza restaurant raises the price of a large cheese pizza from $8 to $10
Subject:EconomicsPrice:2.88 Bought3
Suppose Sally O'Neal's pizza restaurant raises the price of a large cheese pizza from $8 to $10. As a result, the quantity demanded of pizzas decreases from 50 to 40. Using the midpoint method, the price elasticity of demand for cheese pizza is
A. elastic.
B. inelastic.
C. unit elastic.
D. cross elastic.
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