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jhaygood86 jhaygood86
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6 years ago
If a 4 percent rise in the price of peanut butter causes total revenue to increase by 8 percent, then demand for peanut butter
A) is elastic.
B) is inelastic.
C) is unit elastic.
D) has a price elasticity of 1/2.
E) has a price elasticity of 2.
Textbook 
Microeconomics for Life: Smart Choices for You

Microeconomics for Life: Smart Choices for You


Edition: 2nd
Author:
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martrekmartrek
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