Refer to the table below. At a price of $96, which of the following statements is true regarding the price elasticity of demand?
The above table shows a sample of prices and the quantity sold by a monopolist.
A) The price elasticity of demand is greater than one.
B) The price elasticity of demand is equal to 2.0.
C) The price elasticity of demand is less than one.
D) The price elasticity of demand is equal to one.
C) The price elasticity of demand is less than one.
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