A local pizzeria raised its price from $9 to $11 for each pizza and the sales of its pizza decreased from 150 to 100 per day. What is the price elasticity of demand in this case? Select one: O a. -1/2 Оb. 1/2 O c. 2 O d.-2

A local pizzeria raised its price from $9 to $11 for each pizza and the sales of its pizza decreased from 150 to 100 per day. What is the price elasticity of demand in this case? Select one: O a. -1/2 Оb. 1/2 O c. 2 O d.-2

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

le Chrom
elearn.squ.edu.om/m
Academic)
of Microeconomics Spring20 fall20
A local pizzeria raised its price from $9 to $11 for each pizza and the sales of its pizza decreased
from 150 to 100 per day. What is the price elasticity of demand in this case?
Select one:
O a. -1/2
O b. 1/2
O c. 2
O d. -2
Next page
9448A

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