Multiple Choice
Suppose that as the price of Y falls from$2.00 to $1.90, the quantity of Y demanded increases from110 to 118. Then the absolute value of the price elasticity (using the midpoint formula) is approximately
A) 4.
B) 2.09.
C) 1.37.
D) 3.94.
Correct Answer:
Verified
Correct Answer:
Verified
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