Please answer the question in the image and explain which answer should we select: negative or positive sign ? Suppose that the quantity of pizza demanded decreased by 15 percent after an increase inprice of 10 percent. What is the price elasticity of demand for pizza?Select one:O a. 0.67O b. -1.50O c. 1.50O d. -0.67

Price elasticity of demand: It refers to the change in the percentage of price due to which the…

Answered: negative or positive sign

Business

Economics

negative or positive sign

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 6PA: Suppose that your demand schedule for DVDs is as follows: Price Quantity Demanded (income = 10,000)...

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Please answer the question in the image and explain which answer should we select: negative or positive sign ?

Suppose that the quantity of pizza demanded decreased by 15 percent after an increase in
price of 10 percent. What is the price elasticity of demand for pizza?
Select one:
O a. 0.67
O b. -1.50
O c. 1.50
O d. -0.67

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