economics

sanbiz20
Finance Junkie
Posts: 51
Joined: Sat Apr 01, 2017 2:12 pm

economics

Postby sanbiz20 » Sat Aug 26, 2017 2:17 pm

3. If the number of ice cream bars demanded increases from 10 to 17 when the price decreases from $1.50 to $1.00, the price elasticity of demand and type is:
A. -1.49 and relatively inelastic
B. -1.3 and relatively elastic
C. -1.3 and relatively inelastic

please provide answer. i guess B is correct option. please advice

edupristine
Finance Junkie
Posts: 871
Joined: Wed Apr 09, 2014 6:28 am

Re: economics

Postby edupristine » Mon Sep 04, 2017 6:06 am

Hi Sanbiz20,

Can you please provide explanation for option B ?

Thanks


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