Suppose the price of crude oil drops from 150$ a barrel to 120$ a barrel. The quantity bought remains unchanged at 100 barrels. The coefficient of price elasticity of demand in this example would be

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asked Jun 4, 2021 209k views

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Suppose the price of crude oil drops from 150$ a barrel to 120$ a barrel. The quantity bought remains unchanged at 100 barrels. The coefficient of price elasticity of demand in this example would be

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Armon asked

by Armon

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I believe the coefficient of price elasticity of demand in this example would be

h

Waynn Lue answered Jun 10, 2021

by Waynn Lue

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