Answered: 2.9 The price of clothing falls by 10%,…

2.9 The price of clothing falls by 10%, and the quantity demanded rises by 15%. Thus, the own price elasticity of demand coefficient is a) -1.5 b) -0.67 c) 5% d) 1.5

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter19: Elasticity

Section: Chapter Questions

Problem 2WNG: As the price of good X rises from 10 to 12, the quantity demanded of good Y rises from 100 units to...

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Question

2.9 The price of clothing falls by 10%, and the quantity demanded rises by 15%. Thus, the own price
elasticity of demand coefficient is
a) -1.5
b) -0.67
c) 5%
d) 1.5

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