Multiple Choice
When the price of coffee increased from $4.50 to $5.55, the quantity demanded decreased from 185 units sold to 150 units sold. Using the midpoint method, the price elasticity of demand is
A) 0.03.
B) 6.95.
C) 1.
D) 0.81.
Correct Answer:
Verified
Correct Answer:
Verified
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