Multiple Choice
If the price of chocolate-covered peanuts decreases from $1.05 to $0.95 and the quantity demanded increases from 180 bags to 220 bags, then the price elasticity of demand (using the midpoint method) is:
A) 0.5.
B) 1.
C) 2.
D) greater than 2.
Correct Answer:
Verified
Correct Answer:
Verified
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