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Suppose the Price of Twinkle Snack Cakes Is Reduced from $1.50

Question 136

Multiple Choice

Suppose the price of Twinkle snack cakes is reduced from $1.50 to $1.00 and,as a result,the quantity of Twinkle snack cakes demanded increases from 2000 to 2200.Using the midpoint method,what is the price elasticity of demand for Twinkle snack cakes in the given price range


A) 0.24
B) 0.40
C) 1.50
D) 4.21

Correct Answer:

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