Exhibit 5-9 Supply and Demand Curves for Good X
?
As shown in Exhibit 5-9, the price elasticity of demand for good X between points E and B is:
A. 3/7 = 0.43.
B. 7/3 = 2.33.
C. 1/2 = 0.50.
D. 1.
Answer: A
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