Multiple Choice
Suppose that the price of unlimited monthly wireless data plans increases from $80 to $120, and as a result, the quantity demanded of this plan decreases by 10%. Using the midpoint method, the price elasticity of demand is
A) 0.20.
B) 0.25.
C) 4.
D) 5.
Correct Answer:
Verified
Correct Answer:
Verified
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