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Sublight2097 Sublight2097
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Posts: 4132
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9 years ago
If each 10 percent increase in the price of gasoline reduces by 2 percent the quantity purchased, the price elasticity of demand for gasoline is
A) .2.
B) 5.
C) 8.
D) 12.
E) 20.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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DropxDropx
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#1
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9 years ago
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Sublight2097 Author
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#2
9 years ago
My mind was going in all different directions trying to figure this one out. Thanks so much.
wrote...
#3
9 years ago
Happy to help, let me know if you have any more requests.
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