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For a certain good, when the good's price falls from $12 to $10, its quantity demanded rises from 10 to 12 units. The price elasticity of demand here is O 2.55. O 0.66. O 0.39. O 0.20. 1.00

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

For a certain good, when the good's price falls from $12 to $10, its
quantity demanded rises from 10 to 12 units. The price elasticity of
demand here is
O 2.55.
0.66.
O 0.39.
O 0.20.
1.00

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