question archive When the price of a weekly magazine decreases from $2
When the price of a weekly magazine decreases from $2
Subject:EconomicsPrice:2.88 Bought3
When the price of a weekly magazine decreases from $2.00 to $1.50 the quantity demanded increases from 90,000 to 150,000. The price elasticity of demand in this range:
a) 0.39
b) 0.5
c) .89
d) 1.0
e) 1.75
f) 2.83
