Suppose the Price of a Bag of Frozen Chicken Nuggets

question 4

Multiple Choice

Suppose the price of a bag of frozen chicken nuggets decreases from $6.50 to $5.75 and,as a result,the quantity of bags demanded increases from 600 to 800.Using the midpoint method,the price elasticity of demand for frozen chicken nuggets in the given price range is

• A)0.35.
• B)0.43.
• C)2.33.
• D)2.89.

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