Multiple Choice
If the price of Pepsi-Cola increases from 40 cents to 50 cents per can and the quantity demanded decreases from 100 cans to 50 cans, then, according to the midpoint formula, the value of price elasticity of demand for Pepsi-Cola is
A) -0.5
B) -0.25
C) -1
D) -3
E) -2
Correct Answer:
Verified
Correct Answer:
Verified
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