Suppose the price of crude oil drops from $150 a barrel to $120 a barr
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
A) -0.5.
B) infinity.
C) -1.0.
D) 0.
ANSWER
D
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