Multiple Choice
Suppose the price of potato chips decreases from $1.45 to $1.25 and,as a result,the quantity of potato chips demanded increases from 2,000 to 2,200.Using the midpoint method,the price elasticity of demand for potato chips in the given price range is
A) 2.00.
B) 1.55.
C) 1.00.
D) 0.64.
Correct Answer:
Verified
Correct Answer:
Verified
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