Multiple Choice
Suppose when the price of movie tickets is $5,the quantity demanded is 500,and when the price is $7,the quantity demanded is 300.Using the mid-point method,the price elasticity of demand is:
A) 1.51.
B) 0.66.
C) 151 percent.
D) 66 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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