If the absolute value of the price elasticity of demand for DVD movies is 0.8 then the elasticity of demand of the DVD for the movie The Hangover should be
A) less then 0.8 in absolute value.
B) greater than 0.8 in absolute value.
C) equal to 1 in absolute value.
D) equal to zero because the DVD of this movie has been out for several years.
Answer: B
Economics
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Suppose I am willing to pay $300 for a pair of Rollerblades and I purchase them on sale for $200 . My consumer surplus is
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