Multiple Choice
Ceteris paribus, if the price of a good decreases from $32 to $24 and the quantity demanded of the good increases from 80 units sold to 100 units sold, the price elasticity of demand (using the midpoint method) for that good is
A) 1.00.
B) 0.29.
C) 0.78.
D) 1.20.
Correct Answer:
Verified
Correct Answer:
Verified
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