If the Price of Chocolate-Covered Peanuts Decreases from $1

question 325

Multiple Choice

If the price of chocolate-covered peanuts decreases from $1.15 to $0.90 and the quantity demanded increases from 0 bags to 400 bags, then the price elasticity of demand (using the midpoint method) is:

• A)0.5.
• B)1.
• C)2.
• D)greater than 2.

---

Definitions:

Field

In a database context, an area allocated for a specific piece of data, such as a name or address, within a record.

Record

To capture data or information, either in digital or physical format, for the purpose of documenting or tracking.

Media Fields

Areas of study and profession that involve the creation, production, dissemination, and analysis of media content.

Relationship

The way in which two or more concepts, objects, or people are connected, or the state of being connected.