If the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 slices to 7,400 slices, using the formula for arc price elasticity what is the percentage change in price?
A) 18.18%
B) 29.89%
C) 20%
D) 16.67%
A
Economics
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The struggles and controversies over federal and state powers led to the demise of both the First and Second Bank of the United States
Indicate whether the statement is true or false
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The above figure shows the market demand curve for telecommunication while driving one's car (time spent on the car phone). At the current price of $0.35 per minute, consumer surplus equals
A) $301.00. B) $924.50. C) $1,225.50. D) $1,250.00.
Economics