Multiple Choice
When the price of a cup of coffee falls from $3.00 to $2.50,the quantity demanded increases from 1,000 per month to 1,150 per month.Using the midpoint method,the price elasticity of demand is
A) 0.77.
B) 1.30.
C) 0.07.
D) 3.00.
E) 2.50.
Correct Answer:
Verified
Correct Answer:
Verified
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