At a price of $4, a gas station. sold 100 gallons of gasoline per week. When the price rose to $4.5, only 80 gallons were sold per week. Using the initial-value method, the price elasticity of demand for gasoline at Greedy Inc. Gas Station is: O 0.2. O 0.16. 2. 1.6.

At a price of $4, a gas station. sold 100 gallons of gasoline per week. When the price rose to $4.5, only 80 gallons were sold per week. Using the initial-value method, the price elasticity of demand for gasoline at Greedy Inc. Gas Station is: O 0.2. O 0.16. 2. 1.6.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 16SQ

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At a price of $4, a gas station. sold 100 gallons of gasoline per week. When the price rose to $4.5, only 80 gallons were sold per week. Using the initial-value method, the price elasticity of demand for gasoline at
Greedy Inc. Gas Station is:
O 0.2.
O 0.16.
2.
O 1.6.

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