Multiple Choice
When the price of candy bars decreased from $0.55 to $0.45, the quantity demanded changed from 19,000 per day to 21,000 per day. In this price range, the price-elasticity coefficient (based on the midpoint formula) for candy bars is
A) 1.
B) 2.
C) 0.2.
D) 0.5.
Correct Answer:
Verified
Correct Answer:
Verified
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