Multiple Choice
Suppose that 50 candy bars are demanded at a particular price.If the price of candy bars rises from that price by 4 percent,the number of candy bars demanded falls to 46.Using the midpoint approach to calculate the price elasticity of demand,it follows that the
A) demand for candy bars in this price range is elastic.
B) demand for candy bars in this price range is inelastic.
C) demand for candy bars in this price range is unit elastic.
D) price elasticity of demand for candy bars in this price range is 0.
Correct Answer:

Verified
Correct Answer:
Verified
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