(Answered) Coefficient of elasticity of demand

Economics

Problem: Suppose Dairy Queen raises the price of ice-cream cones from $1.00 to $3.00, quantity demanded falls from 10 units to 2 units, the coefficient of elasticity of demand for ice cream cones using the average or arc elasticity approach is

-1.33.
-0.37.
-0.4.
-2.67.

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Macroeconomics, Economics

Category:- Macroeconomics
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