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Sublight2097 Sublight2097
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8 years ago
If the price of cappuccino on campus falls from $5 to $3 and the quantity demanded increases from 15 to 20, then the price elasticity of demand is approximately
A) 0.47, which mean cappuccino is inelastic.
B) 0.57, which means cappuccino is inelastic.
C) 1.75, which means cappuccino is elastic.
D) 2.25, which means cappuccino is elastic.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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DropxDropx
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Sublight2097 Author
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8 years ago
Seriously, you've been tremendously helpful! Thank you.
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8 years ago
Another success story!

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