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When the Price of a Good Is $5,the Quantity Demanded

Question 232

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) 1.83.
C) 10.
D) 2.

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