问题
单项选择题
The price of product Z decreased from $ 2.50 per unit to 2.00 per unit. Since the price decreased, demand has gone up from 3 million units to 4 million units. Calculate the price elasticity of demand and determine if the demand is elastic or inelastic.Price elasticity of demand Elasticity（）
A. -1.29 elastic
B. -2.00 inelastic
C. -1.29 inelastic
答案
参考答案：A
解析：
Percentage change in quantity=[(4-3)]/[(4+3)/2]=1/3.5=0.286=28.6% Percentage change in price=[(2-2.5)]/[(2+2.5)/2]=-0.5/2.25=-0.222=-22.2%