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If the Price of a DVD Falls from $20 to $12

Question 247

Multiple Choice

If the price of a DVD falls from $20 to $12 and the quantity of DVDs supplied decreases from 118,000 per hour to 100,000 per hour,using the midpoint formula the elasticity of supply equals


A) 0.33.
B) 2.94.
C) 3.08.
D) 0.23.
E) -3.08.

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