Multiple Choice
Fantastic Cuts Hair Salon knows that a 15% increase in the price of their haircuts will result in a 5% decrease in the number of haircuts sold.What is the elasticity of demand facing Fantastic Cuts?
A) 0.05
B) 0.10
C) 0.15
D) 0.33
E) 3.0
Correct Answer:
Verified
Correct Answer:
Verified
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