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Suppose When the Price of Movie Tickets Is $7

Question 69

Multiple Choice

Suppose when the price of movie tickets is $7.50,the quantity demanded is 550,and when the price is $8.50,the quantity demanded is 450.Using the mid-point method,the price elasticity of demand is:


A) 0.625
B) 0.625.
C) 1.6
D) 1.6.

Correct Answer:

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