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Suppose You Are Given the Following Data on Demand for a Product

Question 103

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Suppose you are given the following data on demand for a product. The price elasticity of demand (based on the midpoint formula) when price decreases from $9 to $7 is Suppose you are given the following data on demand for a product. The price elasticity of demand (based on the midpoint formula) when price decreases from $9 to $7 is A) 0.63. B) 1.16. C) 1.6. D) 2.27.


A) 0.63.
B) 1.16.
C) 1.6.
D) 2.27.

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