Multiple Choice
Suppose at $10 the quantity demanded is 100.When the price falls to $8,the quantity demanded increases to 130.The price elasticity of demand (using the midpoint formula) between $10 and $8 is approximately:
A) 1.17.
B) 1.50.
C) 0.85.
D) 1.00.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q131: If a good is a necessity with
Q132: Use the following to answer question: <img
Q133: Suppose the price elasticity of demand for
Q134: If your purchases of good A remain
Q135: Kayla and Jada are roommates in New
Q137: Use the following to answer question: <img
Q138: A group of dairy farmers is trying
Q139: Given a price increase for any good,the
Q140: If total revenue goes up when the
Q141: The price of a gallon of gasoline