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Microeconomics Midterm - Part 2 of 3!
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Problem 1
Problem 2
Problem 3
Problem 4
Problem 5
Problem 6
Problem 7
Problem 8
Problem 9
Problem 10
Problem 11
Problem 12
Problem 13
Problem 14
Problem 15
Problem 16
Problem 17
Problem 18
Problem 19
Problem 20
Problem 21
Problem 22
Microeconomics Midterm - Part 2 of 3!
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4. Elasticity / Percentage Change and Price Elasticity of Demand / Problem 15
Problem 15
If the price of a movie ticket increases by 15% and the quantity demanded decreases by 30%, what is the price elasticity of demand?
A
0.5
B
2
C
1.5
D
1
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