Multiple Choice
Zumba classes sell all 20 participant spots at a price of $4.50 each. When the instructor raised the prices to $5.50, 10 people attended the class. From the midpoint method, the price elasticity of demand for Zumba is:
A) -0.50.
B) -3.33.
C) -2.50.
D) 0.20.
E) -0.20.
Correct Answer:
Verified
Correct Answer:
Verified
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