Multiple Choice
A health club sells 100 memberships when the monthly price is $70 and 120 memberships when the monthly price is $60. The price elasticity of demand for memberships at this health club is (using the midpoint formula) :
A) 0.25.
B) 0.65.
C) 1.18.
D) 1.
Correct Answer:
Verified
Correct Answer:
Verified
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