試題詳解

9.The current price floor in the agricultural lettuce market makes it such that price of lettuce is 25% higher than equilibrium price and 100 heads of lettuce are demanded. Assuming that the elasticity of demand for lettuce is -0.50, what would be the equilibrium price and quantity of lettuce if the government removed the current price floor?
(A) Price = 0.875, Quantity = 125
(B)Price = 1, Quantity = 112.5
(C)Price = $0.75, Quantity = 112.5
(D)Price = $0.75, Quantity = 125