Figure: the Demand Curve for Oil (Figure: Demand Curve

question 122

Multiple Choice

Figure: The Demand Curve for Oil (Figure: Demand Curve for Oil) Look at the figure The Demand Curve for Oil.The price elasticity of demand between $20 and $21, using the midpoint method, is approximately:

• A)0.21.
• B)0.49.
• C)2.1.
• D)4.9.

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Definitions:

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