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.

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Definitions:

Grammatically Correct

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Translation

The act of translating spoken or written content from one language into a different language.

Conditional Statement

A statement in logic that asserts that if one thing is true, then another thing will follow as a consequence.

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