Multiple Choice
When the price of a good is $5, the quantity demanded is 120 units per month; when the price is $7, the quantity demanded is 100 units per month. Using the midpoint method, the price elasticity of demand is about
A) 0.55.
B) 2.
C) 1.83.
B) 10.
Correct Answer:
Verified
Correct Answer:
Verified
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