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Course: AP®︎/College Microeconomics > Unit 2

Lesson 3: Price elasticity of demand
Economics
AP®︎/College Microeconomics
Supply and Demand
Price elasticity of demand
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Price Elasticity of Demand and its Determinants

Google Classroom

Problem

When the price of spicy sauce was $10, people bought 100 jars. When the price increased to $12, people only bought 40 jars.
What is the price elasticity of demand for spicy sauce?
Choose 1 answer: