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ases 30 units of product "X". Shyanne's "arc" price elasticity of demand for product "X" is (Ex,x =): O "-0.25 " and the demand for "X" is relatively elastic. O " -4.00 " and the demand for "X" is relatively inelastic. O" -0.25 " and the demand for "X" is relatively inelastic. O " -4.00 " and the demand for "X" is relatively elastic. O " -0.25 " and "X" is a "normal" good. Save & Continue Continue without saving

ases 30 units of product "X". Shyanne's "arc" price elasticity of demand for product "X" is (Ex,x =): O "-0.25 " and the demand for "X" is relatively elastic. O " -4.00 " and the demand for "X" is relatively inelastic. O" -0.25 " and the demand for "X" is relatively inelastic. O " -4.00 " and the demand for "X" is relatively elastic. O " -0.25 " and "X" is a "normal" good. Save & Continue Continue without saving

ENGR.ECONOMIC ANALYSIS
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 4** When the price of product "X" is (P1=) $42, Shyanne purchases 20 units of product "X," and when the price of product "X" is (P2=) $38, she purchases 30 units of product "X." Shyanne's "arc" price elasticity of demand for product "X" is (Ex,x =): - ○ “-0.25” and the demand for "X" is relatively elastic. - ○ “-4.00” and the demand for "X" is relatively inelastic. - ○ “-0.25” and the demand for "X" is relatively inelastic. - ○ “-4.00” and the demand for "X" is relatively elastic. - ○ “-0.25” and "X" is a "normal" good. [Save & Continue Button] [Continue without saving]
Transcribed Image Text:**Question 4** When the price of product "X" is (P1=) $42, Shyanne purchases 20 units of product "X," and when the price of product "X" is (P2=) $38, she purchases 30 units of product "X." Shyanne's "arc" price elasticity of demand for product "X" is (Ex,x =): - ○ “-0.25” and the demand for "X" is relatively elastic. - ○ “-4.00” and the demand for "X" is relatively inelastic. - ○ “-0.25” and the demand for "X" is relatively inelastic. - ○ “-4.00” and the demand for "X" is relatively elastic. - ○ “-0.25” and "X" is a "normal" good. [Save & Continue Button] [Continue without saving]
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