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

Question 61

Multiple Choice

When the price of a good is $5,the quantity demanded is 100 units per month;when the price is $7,the quantity demanded is 80 units per month.Using the midpoint method,the price elasticity of demand is about


A) 0.22.
B) 0.67.
C) 1.33.
D) 1.50.

Correct Answer:

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