Multiple Choice
Suppose the price of Twinkies decreases from $1.45 to $1.25 and,as a result,the quantity of Twinkies demanded increases from 2,000 to 2,200.Using the midpoint method,the price elasticity of demand for Twinkies 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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