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MasterPriapis MasterPriapis
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7 months ago

Exhibit 20-3



Price

of Good A

Quantity

Demanded

of Good A

Quantity

Supplied

of Good A

$5.50

5

55

$4.50

15

45

$3.50

25

35

$2.50

35

25

$1.50

45

15

$0.50

55

5


Refer to Exhibit 20-3. When price decreases from $5.50 to $4.50, the price elasticity of demand is



▸

0.2.



▸

0.5.



▸

1.0.



▸

2.0.



▸

5.0.

Textbook 
Economics

Economics


Edition: 12th
Author:
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nenialindanenialinda
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7 months ago
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