Multiple Choice
If the price of chocolate-covered peanuts decreases from $2.00 to $1.55 and the quantity demanded increases from 180 bags to 220 bags, then the price elasticity of demand (using the midpoint method) is:
A) 0.
B) 0.5.
C) 0.8.
D) 2.
Correct Answer:
Verified
Correct Answer:
Verified
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