Question: If a price increase from $5 to $7 causes quantity demanded to fall from 150 to 100, what is the absolute value of the own

If a price increase from $5 to $7 causes quantity demanded to fall from 150 to 100, what is the absolute value of the own price elasticity at a price of $7 using the arc formula?

rev: 06_29_2013_QC_32218

0.57

1.2

0.02

1.24

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