ECONOMICS (CBSE/UGC NET)

ECONOMICS

ELASTICITY OF DEMAND

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Alyssa’s Floral Shoppe dropped its prices for a dozen roses from $45 to $35 this year. Because of this decrease in price, the quantity sold increased from 1000 to 1500. The price elasticity of demand for Alyssa’s roses is:
A
1.00.
B
1.6.
C
0.625.
D
2.25
Explanation: 
There is 1 question to complete.