Multiple Choice
At a price of $100, Beachside Canoe Rentals rented 11 canoes.When it increased its rental price to $125, 9 canoes were rented.Calculate the absolute value of the price elasticity of demand for canoe rentals using the midpoint formula.
A) 2
B) 1.25
C) 0.9
D) 0.75
Correct Answer:
Verified
Correct Answer:
Verified
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