Tara buys four music cassettes when the price is 10 and two ...

[Alygatorr01285]

Tara buys four music cassettes when the price is 10 and two cassettes when the price is 14 . Her price elasticity of demand is:
 a. 0.
  b. 1.
  c. 2.
  d. 3.
  e. 4.

Question 2

Leo's Bakery reduces the price of wheat bread from 3 to 1 and finds that quantity demanded increases from 100 to 122 loaves. Leo calculates that his price elasticity of demand for wheat bread is:
 a. 0.
  b. 0.2.
  c. 1.0.
  d. 1.5.
  e. 2.0

[Sierray]

Answer to Question 1

c

Answer to Question 2

b

[Alygatorr01285]

TYSM

[ttt030911]

Thanks for the timely response, appreciate it