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Use the Midpoint Method to Answer This Question

Question 168

Multiple Choice

Use the midpoint method to answer this question. When a good's price increases from $20 to $25 and its quantity demanded decreases from 100 to 75, the elasticity of demand for that good is:


A) unit elastic.
B) inelastic.
C) perfectly inelastic.
D) elastic.

Correct Answer:

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