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March 30, 2017

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Muliple Choice:
Pizza prices rose from $2 to $3 and quantity demanded dropped from 100 to 75 pizzas. Using the traditional method what is the price elasticity of demand:
2.0
-2.0
-0.5
none of the above


Elasticity is (%change in Q)/(%change in P). You have all the information you need.

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